Bulgaria’s Business Confidence Index Rises in May

Bulgaria’s overall business climate indicator has risen by 3.1 percentage points this month compared to its April level due to improved managers’ opinions in construction, retail trade and services, the country’s statistical office NSI said on Thursday.

In May, the business climate index in the industrial sector has remained liitle changed from the previous month as the number of production orders slightly increased and managers’expectations about the activity of the enterprises over the next three months improved, the NSI said in a monthly survey of business sentiment. Uncertain economic environment and insufficient domestic demand remain the main obstacles to the business development in the sector.

The business sentiment index in the construction sector rose by 2.5 percentage points due to the more favourable assessment of the current business position of the companies in the sector expressed by their managers. Their forecasts for the next three months remain optimistic, though more reserved compared to April.