Poll: Business climate in Bulgaria has improved slightly

A regular monthly poll by the National Statistical Institute (NSI) has found that managers see the business climate in Bulgaria in September as having improved compared with August.

The August poll by the NSI found that the business climate in Bulgaria was seen as having worsened compared with July. The poll in July had found that the business climate in Bulgaria was largely unchanged after the poll in June showed it as seen as slightly improved, after the May poll found gloomier views than in April.

In September 2022, the total business climate indicator increased by 0.8 percentage points in comparison with August, the NSI said.

The indicators in Bulgaria’s industry, retail trade and service sectors were up, but down in the construction sector.

“In all sectors, the most serious problem for the business development remains the uncertain economic environment,” the NSI said.

The indicator in the industry sector was up by 0.5 percentage points, mainly due to managers having favourable views about the current situation of their businesses. However, they were reserved about present production activity, and their forecasts about the coming three months had worsened.

The retail trade indicator was up by 2.6 percentage points, which was due both to the improved assessments and more favourable expectations of retailers about the business situation, the institute said.

Retailers’ opinions about the volume of sales and the orders placed with suppliers over the next three months were also more positive.

The indicator in the service sector was up by 1.6 percentage points, with managers more optimistic about the business situation. Their view about the trend in demand for services was favourable, while their expectations about the coming three months remained reserved.

In the construction sector, the indicator was down by 1.1 percentage points, with managers having become more pessimistic about the business situation over the next six months.

Their forecasts about construction activity over the next three months were more moderate. Those polled reported an increase in the number of clients delaying payments, the NSI said.

(Photo: Steve McGrath/freeimages.com)

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