Bulgaria's business climate improved in September as compared to the previous month, the National Statistical Institute (NSI) said on Wednesday.
The overall business sentiment indicator rose by 0.8 percentage points (pp) month-on-month in September due to more favourable business climate in the retail trade sector, the NSI said in a monthly business climate survey.
The business climate improved by 4.2 pp in retail as a result of the improved retailers’ assessments and expectations about the business situation of the enterprises. Their projections about the volume of sales and orders placed with suppliers over the next three months also are more favourable, NSI said.
NSI's survey indicates an increase in the negative impact of the uncertain economic environment and competition in the sector as the main factors hampering business development in the retail trade sector.
The indicator in services remained unchanged on a monthly comparison basis in September, NSI said. In August, business sentiment in the services sector improved by 4.6 pp month-on-month.
According to NSI's September survey, the managers’ assessments and expectations about the present and expected demand for services are shifting to more moderate levels.
The business sentiment indicator in industry preserved approximately its August level. Industrial entrepreneurs assess the present production activity as favourable and their forecasts about the activity in the sector over the next three months have also improved, the NSI said.
The indicator in construction decreased by 1.0 pp, as a result of less favourable construction entrepreneurs’ assessments and expectations about the business situation of the enterprises.
According to construction entrepreneurs, there has been a decrease in the inflow of orders since August, which is accompanied by worsened expectations about the construction activity over the next three months.