Euro zone business sentiment improves slightly
The Business Climate Indicator (BCI) in the 16-member euro zone improved slightly in May 2010, according to European Union statistics office Eurostat. "The current level of the indicator suggests that economic activity in industry will continue to recover in the coming months, although it has still some way to go to reach its pre-crisis height," Eurostat said in a May 31 2010 media statement. The statistics office cautioned that the results were influenced by a change in the way that economic activities were categorised. Separately, Eurostat said that its flash estimate was that euro zone annual inflation was expected to be 1.6 per cent in May, from 1.5 per cent in April 2010. On May 31, Dnevnik said that Bulgaria's producer prices had continued to increase mostly on the back of exporting sectors. While this was a sign that the economic picture is perking up, the conditions for doing business in Bulgaria remain negative, according to figures published on May 28, Dnevnik said. Producer price inflation in Bulgaria hit a record 8.1 per cent on an annual basis in April, according to National Statistical Institute (NSI) data. For the month, it increased to 2.1 per cent.The main reason for the increase in producer price inflation was again the processing industry, which saw a 12.2 per cent increase, including 42.3 per cent for base metals and 20.7 per cent for tobacco products. On the other hand, there was a decline in the prices of making wood materials and non-metal mineral raw products.