Poll: Business climate in Bulgaria improved in January

The business climate in Bulgaria improved in January 2024, according to a regular monthly poll by the National Statistical Institute (NSI), the results of which were released on January 30.

The business climate indicator was up by three percentage points compared with December 2023, with increases in all four sectors polled, the NSI said.

“The uncertain economic environment, shortage of labour, competition in the branch, insufficient demand and costs of materials continue to be the main factors limiting the business development in the sectors,” the institute said.

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, largely unchanged in November compared with October, followed by a decline in December.

In January 2024, the indicator in Bulgaria’s industry sector was up by 2.6 percentage points, with managers taking a more positive view of the business situation, and having favourable forecasts about production activity in the next three months.

In the construction sector, the indicator was up by 4.6 percentage points, with managers optimistic about the business situation.

The indicator in the retail trade sector was up by 2.9 percentage points, with managers holding improved views about the coming six months, though their forecasts about the volume of sales and orders placed with suppliers over the next three months had worsened.

The services sector indicator was up by 2.4 percentage points as a result of managers’ optimistic managers’ assessments and expectations about the business situation of their enterprises. Their opinions about the present and expected demand for services were also positive, the NSI said.

(Photo: Steve McGrath/freeimages.com)

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