Business Climate Improves by 2.7% in Bulgaria February 2011

Business Climate Improves by 2.7% in Bulgaria February 2011

In February 2011 the total business climate indicator has increased by 2.7%  in comparison with the previous month, but is still 8.3%  below its long-term average value, the National Statistical Institute has informed.

The composite indicator of business climate in industry has increased by 4.1 percentage points in comparison with January  and it is only 2.5 percentage points below its long-term average value. The inquiry registers increased managers' optimism about the expected business situation of enterprises over the next 6 months and more favorable neutral opinions about the assessment of the present business situation.

However, in February the production activity was still assessed as decreased and the production assurance with orders is preserved at its level from the preceding months. In the short term the managers continue to have positive expectations about the activity.

The major problems for the business in industry continue to be the uncertain economic environment and the insufficient demand, as the uncertain economic environment is still above the usual-for-the-last-10-years average value. In February, the enterprises' difficulties related to the competitive import increase to a certain extent, according to the statistical institute. The inquiry also reports on an increase of the expectations about a rise of prices in industry over the next 3 months.

In February, the composite business climate indicator for construction has  increased by 5.1 % in comparison with the preceding month, mostly due to the more optimistic managers' expectations about the business situation of enterprises over the next 6 months.

The composite indicator "business climate in retail trade" in February has dropped by 1.1% comparison with January, which is due to a shifting of the opinions about the present business situation from "good" towards "satisfactory". The managers report that the sales over the last months have decreased, but the inquiry registers some recovering of the positive expectations about the sales over the next 3 months.

In February the composite indicator of business climate for the service sector has increased by 1.2 percentage points in comparison with the previous month due to the more favorable managers' assessments and expectations about the business situation of enterprises. The opinions about the present and expected demand for services are also improved. An increase of personnel over the next 3 months is not expected. /Source Sofia News Agency/

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