Bulgaria's business climate indicator worsened on a monthly comparison basis in October, the National Statistical Institute (NSI) said on Thursday.
The overall business sentiment indicator fell 2.3 percentage points (pp) in October, compared to September, due to decreases in the industry, retail trade, and services indicators, the statistical office said in a monthly business climate survey.
The composite indicator in the industry sector declined the most - by 3.9 pp month-on-month, as a result of the more reserved industrial entrepreneurs’ assessments and expectations about the business situation of the enterprises.
Their forecasts for both export and production activity over the next three months are more negative, the NSI said.
The services sector indicator was down 2.1 pp, due to the slightly worsened managers’ assessments and expectations about the business situation of enterprises. Their opinions about the current and expected demand for services are moderate, according to the NSI.
The business sentiment indicator in the retail trade sector dropped 1.4 pp. which is due to the more moderate retailers’ assessments and expectations about the business situation of the enterprises. Their forecasts about the volume of sales and orders placed with suppliers over the next three months are more reserved, the NSI also said.
The business sentiment indicator in the construction sector maintained its September level. The construction entrepreneurs’ expectations about both the business situation of the enterprises over the next six months and the activity over the next three months are pessimistic. The survey also shows an increase in the number of clients with delay in payments in the review month, the NSI added.