Poll: Business sentiment in Bulgaria declined in December 2023

A regular monthly poll by the National Statistical Institute (NSI) has found that business sentiment in Bulgaria declined in December, a result of managers in the construction, retail trade and service sectors seeing the business climate as unfavourable.

Previous polls by the NSI in recent months saw improvements in business sentiment in April and in May, followed by it being largely unchanged in June and July, with a slight decline in August and again largely unchanged in September, a drop in October, and business sentiment in November largely unchanged compared with October.

In Bulgaria’s construction sector, the indicator dropped by 1.2 percentage points, with managers more reserved about the business situation, though their expectations about both the business situation over the next six months and construction activity over the next three months had improved.

The retail trade indicator dropped by 5.6 percentage points, with retailers seeing the business situation as having shifted from “good” towards being unchanged. Their forecasts about the volume of sales and orders placed with suppliers over the next three months were also reserved.

The service sector indicator dropped by 2.5 percentage points, with managers’ assessments and expectations about the business situation being unfavourable, though their expectations about demand for services in the coming three months had slightly improved.

The indicator in the industry sector was largely unchanged compared with November, with managers seeing present production activity as favourable, though their expectations about the coming three months had worsened slightly, the NSI said.

(Photo: Steve McGrath/freeimages.com)

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