Business sentiment in Bulgaria was more positive in November 2019 compared with the previous month, according to a monthly poll by the National Statistical Institute (NSI), released on November 29.
Previous polls had found that business sentiment in October 2019 had been gloomier compared with September, when it had been largely unchanged from the previous month, when it had been seen as unfavourable. In July, it had been seen as unchanged from June, when it had dropped compared with May – a month in which it had improved compared with April and March.
The NSI said that in November, the total business climate indicator had increased by 1.2 percentage points in comparison with October, due to more positive views in Bulgaria’s construction sector and the retail trade.
In the industry sector, the indicator was about the same as the previous month, the NSI said. Managers were fairly optimistic about the business situation of their enterprises in the coming six months. At the same time, their main concerns were the uncertain economic environment and the shortage of labour.
In the construction sector, the indicator was up by 2.3 percentage points. They had more positive expectations about orders, while their concerns were the shortage of labour, uncertain economic environment and competition in the sector.
In the retail trade, the indicator was up by 2.7 percentage points. Managers’ forecasts about the volume of sales over the next three months were more favourable. Their main concerns were competition in the sector, insufficient demand and the uncertain economic environment. They expected selling prices to remain unchanged over the coming three months.
In Bulgaria’s service sector, the indicator was largely unchanged from October. Managers were optimistic about business development in the sector over the next six months, while their expectations about the demand for services over the next three months also had improved.
For managers in the service sector, the most serious obstacles were seen as competition in the sector, followed by the uncertain economic environment and the shortage of labour, the NSI said.