Business sentiment in Bulgaria staged something of a recovery in May 2020 after plummeting in April to its lowest level in 23 years, according to the results of a monthly poll by the National Statistical Institute (NSI) on May 29.
The total business climate indicator marked a positive change in comparison with the past three months, increasing by 11.8 percentage points compared with April, the NSI said.
Business sentiment rose in all four sectors of Bulgaria’s economy polled by the NSI – industry, construction, the retail trade and services.
The “business climate in industry” composite indicator went up by 11.4 percentage points, with managers more favourable in their views about the business situation of their enterprises over the next six months, the NSI said.
The largest increase was in the construction sector, by 17.3 percentage, with managers more optimistic about the next six months. While construction activity was reduced at the moment, their forecasts about the next three months were more favourable.
In the retail trade, the indicator was up by 16.2 percentage points, with more optimism about the next six months, and the volume of sales and orders placed with suppliers (from both the domestic and foreign markets) over the next three months.
The service sector composite indicator registered the lowest increase, 2.5 percentage points.
Managers were more favourable about the next six months. Demand for services was reduced at the moment, while expectations for the coming three months had improved slightly, the NSI said.