Bulgaria's business climate indicator flattish in July - stats office

Bulgaria's business climate indicator flattish in July - stats office

Bulgaria's business climate indicator was unchanged on a monthly comparison basis in July, the National Statistical Institute (NSI) said on Thursday.

Improvement is observed in the construction and retail trade sectors, while a decline is seen in the industry sector, the statistical office said in a monthly business climate survey.

The composite indicator in the industry sector went down by 1.4 pp month-on-month, as a result of the more reserved assessments and expectations of entrepreneurs about the business situation of the enterprises. Despite not having increased expectations for production activity in the next three months, industrial entrepreneurs improved their views on the inflow of new orders in the previous three months.

The construction sector indicator went up by 1.0 pp, due to more optimistic entrepreneurs’ assessments of the present state of the enterprises. However, the uncertain economic environment and labor shortages continue to be major problems for the development of construction businesses.

The business sentiment indicator in the retail trade sector went up by 1.2 pp in July due to the more positive expectations of retailers for the state of the sector over the next six months. "However, their forecasts for sales volume and supplier orders remain reserved for the next three months," the NSI noted.

In July, the composite indicator in the services sector maintained its June level. Managers have favorable opinions of the current demand for services but their next-three-months expectations are more reserved, the NSI said.

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