A regular monthly poll by the National Statistical Institute (NSI) has found a significant improvement in business sentiment in Bulgaria, continuing the upward trend that the series of polls showed since the start of 2021.
This is in contrast to just more than a year ago when, against the backdrop of the Covid-19 crisis in Bulgaria, business sentiment plummeted in April 2020 to a 23-year low.
The NSI said that in May 2021, the total business climate indicator increased by 12.4 percentage points compared with April 2021, bolstered by increased optimism among managers in all four sectors surveyed – industry, construction, retail trade and services.
In Bulgaria’s industry sector, the indicator was up by 11.3 percentage points on a monthly basis, with managers expecting increased activity in the next three months.
In the construction sector, the indicator was up by 13.6 percentage points, with managers reporting an increase in the inflow of new orders in the past month, and more optimistic about the coming three months.
The service sector indicator was up by 10 percentage points, with managers more favourable about the business situation of their enterprises and more positive about current and expected demand.
The retail trade increase was the largest, up by 15.6 percentage points compared with April 2021. Managers were more positive about the current situation and about orders placed with suppliers in the next three months, the NSI said.
(Photo: Carl Dwyer/freeimages.com)
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