Bulgaria's business climate improves in March - stats office

Bulgaria's business climate improves in March - stats office

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

The overall business sentiment indicator went up by 2.1 percentage points (pp) month-on-month in March, mainly supported by a more favourable business climate in the construction sector, the NSI said in a monthly business climate survey.

The composite indicator in the construction sector improved the most in March, by 3.8 pp, as a result of the more optimistic entrepreneurs’ assessments and expectations about the business situation of the enterprises. The entrepreneurs’ forecasts about the activity in the sector over the next three months are also favourable due to an increase in the number of new orders placed over the past month.

In the services sector, the indicator added 2.7pp compared to February, reflecting the more upbeat managers’ assessments and expectations about the business situation of the enterprises. Their opinions about the demand for services over the next three months also improved, the NSI said.

In retail trade and industry the composite indicators rose by 1.7pp and 1.2pp, respectively.

The uncertain economic environment continues to limit business development across all sectors, but mainly in retail, where 64.3% of managers said this is the main obstacle to growth in the sector.

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