Bulgarian managers’ overall outlook on the business climate was gloomier in October 2013 than in the previous month, brought down by the more unfavourable business climate in the industry and service sectors, according to survey results released by the National Statistical Institute (NSI).
October saw the total business climate indicator 2.1 percentage points down on the September figure.
In industry specifically, there was a significant drop – of 4.6 percentage points – as managers were more reserved in their expectations. Expectations about the next three months had grown more unfavourable, an outlook in common with other sectors surveyed, going by the NSI findings.
In the construction sector, sentiment about the business climate was much the same as in Sepember, while managers said that construction activity was down on the previous month and their forecasts for the next three months were also more unfavourable.
At the same time, an increase in the number of clients with delays in payments was registered, the NSI said.
Retail trade managers’ assessments and expectations were up, by 1.6 percentage points, “however, their prognoses about the volume of sales and orders placed with suppliers over the next three months are more reserved,” according to the NSI.
In Bulgaria’s service sector, the business climate indicator was down 3.3 percentage points month-on-month, as managers shifted from envisaging an improved business situation to one that was much the same.
Managers in the service sector saw demand for services as improved, “but expectations over the next three months are more unfavourable”.
A previous report by the NSI said that in September, the total business climate indicator had been overall at the same level as in August, the result of an improvement of the indicator in industry (by 2.6 percentage points) but with worsened outlooks in the construction and services sectors.
The month before that, August, saw Bulgaria’s business climate indicator unchanged month-on-month, after July was the first month of 2013 since February to see an increase.
(Photo: Leah Sawyer)