Third month of slight recovery in business sentiment in Bulgaria

For a third month, a regular poll by the National Statistical Institute (NSI) has established a recovery in business sentiment in Bulgaria, after the indicator plunged to a 23-year low in April amid the Covid-19 crisis.

In July 2020, the total business climate indicator increased by 2.5 percentage points compared with June, the NSI said.

The increase was driven by more positive views in July in Bulgaria’s retail trade and service sectors.

In Bulgaria’s retail trade, the composite indicator went up by 6.4 percentage points, with managers having a more positive view about the business situation of their enterprises, and their expectations about the volume of sales and orders placed with suppliers over the next three months also more favourable, the NSI said.

In the service sector, the indicator was up by 8.2 percentage points, with managers more optimistic than previously. Managers expected that the next three months would see improved demand for services, although their views were more reserved than in June.

The indicator in the industry sector was unchanged from June, with managers’ expectations about the coming three months more moderate, the NSI said.

The indicator in the construction sector was down by 1.8 percentage points, with managers having worsened expectations about the next six months, and their forecasts about construction activity in the next three months also more reserved. The poll also found that the number of clients who had delayed payments had increased.

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The Sofia Globe staff

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