Bulgaria's business climate improved on a monthly comparison basis in January, the National Statistical Institute (NSI) said on Thursday.
The overall business sentiment indicator increased by 6.9 percentage points (pp) month-on-month in January due to a more favourable business climate in all observed sectors, the NSI said in a monthly business climate survey.
The indicator in retail grew most, by 11.2 pp on a monthly comparison basis, due to the optimistic retailers’ assessments and expectations about the business situation of the enterprises. Retailers’ forecasts about both the volume of sales and orders placed with suppliers over the next three months also improved, the NSI noted.
The business climate indicator in the industry sector added 6.1 pp month-on-month in January, reflecting the improved industrial entrepreneurs’ assessments and expectations about the business situation of the enterprises as well as their positive expectations about the export and production activity over the next three months.
In the period between October 2020 and January 2021, the production assurance whit orders in the industry sector increased from 4.5 to 4.9, and the average capacity utilization grew by 1.2 pp to 74.0%, according to the NSI.
The indicator in services increased by 6.0 pp in January compared to a month earlier as a result of the more favourable managers’ expectations about the business situation of the enterprises over the next six months. The survey also indicates certain improvement in managers' forecasts about the demand for services over the next three months, the NSI said.
The business climate indicator in construction rose by 5.1 pp on a monthly comparison basis. As regards new orders placed over the next six months, construction entrepreneurs’ forecasts are improving, which according to them will lead to accelerated activity in the sector in the short term, the NSI also said.
According to the statistical office, the uncertain economic environment remains the main obstacle to business development in all sectors.