Bulgaria's business climate improves in Feb - stats office

Bulgaria's business climate improves in Feb - stats office

Bulgaria's business climate improved on a monthly comparison basis in February, the National Statistical Institute (NSI) said on Friday.

The overall business sentiment indicator increased by 1.8 percentage points (pp) month-on-month in January due to a more favourable business climate in the construction and services sectors, the NSI said in a monthly business climate survey.

The composite indicator in the services sector improved the most in February, by 5.3 pp, backed by the more favourable managers’ assessments and expectations about the business situation of the enterprises. In addition, there was a slight improvement in the expected demand for services over the next three months.

In the construction sector, the composite indicator increased by 3.6 pp thanks to a more optimistic forecasts about the construction activity over the next 3 months, accompanied by certain expectations of additional hiring of personnel.

In industry and retail trade the composite indicators remained approximately at their January level.

According to the statistical office, the uncertain economic environment remains the main obstacle to business development in all sectors.

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