Bulgaria's business climate improves in May - stats office
Bulgaria's business climate indices rose on a monthly comparison basis in May, the National Statistical Institute (NSI) said on Friday.
The overall business sentiment indicator went up by 12.4 percentage points (pp) in May, compared to April, the statistical office said in a monthly business climate survey.
The composite indicator in the retail trade sector rose the most, by 15.6pp month-on-month, due to the positive retailers’ assessments and expectations about the business situation of the enterprises. Their forecasts for both the volume of sales and orders placed with suppliers over the next three months also improved, the NSI said.
The indicator in the construction sector was up 13.6pp. According to the respondents in the survey, there was a rise in the number of new orders in May accompanied by more optimistic expectations about the business activity over the next three months.
The business sentiment indicator in the industry sector added 11.3pp which is due to the optimistic industrial entrepreneurs’ assessments and expectations about the business situation of the enterprises. According to the entrepreneurs, the production activity has improved, and they expect business activity in the sector to pick up over the next three months, the NSI said.
The composite indicator in the services sector added 10.0pp in May. The managers’ assessments and expectations about the business situation of the enterprises as well as their opinions about the present and expected demand for services have improved.