Business Climate Indicator Up 4.3 Percentage Points in May M/M

Business | May 28, 2014, Wednesday // 13:22| Views: 877 | Comments: 0
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Bulgaria: Business Climate Indicator Up 4.3 Percentage Points in May M/M The National Statistical Institute HQ in Sofia, photo by BGNES

In May 2014, the total business climate indicator increases by 4.3 percentage points on the month, according to the National Statistical Institute (NSI).

The improvement is attributed to the more favorable views of managers from the industry, construction, retail trade and the service sectors.

The composite indicator "business climate in industry" increases by 4.2 percentage points on the month due to the more optimistic evaluations of industrial entrepreneurs of the current situation of the enterprises.

The uncertain economic environment remains the main factor which obstructs business development in the sphere, followed by insufficient domestic demand.

As regards selling prices in the sphere of industry, managers expect the rates to remain unchanged over the next three months.

In May 2014, the composite indicator "business climate in construction" increases by 2.2 percentage points due to the more favorable evaluations of construction entrepreneurs of the current situation of the enterprises. In their words, construction activity has improved on a monthly basis and their forecast about the next three months remain optimistic, though more modest than in April.

The uncertain economic environment is yet again cited as the major obstacle which obstructs business development.

As regards selling prices in construction, the majority of managers expect them to remain unchanged over the next 3 months.

The composite indicator "business climate in retail trade" increases by 2.5 percentage points on a monthly basis due to the improved estimates of retailers of the current situation of the enterprises.

However, their forecast about sales and orders to suppliers over the next 3 months is more cautious.

The uncertain economic environment is once again cited as the major obstruction and the selling prices are expected to remain unchanged over the next 3 months.

In May 2014, the composite indicator "business climate in service sector" increases by 8.2 percentage points on the month due to the more optimistic evaluations and expectations of managers as regards the situation of the enterprises.

Their views on the current demand for services are more unfavorable, while their expectations about the next three months indicate improvement.

The uncertain economic environment continues to be the major deterring factor and selling prices are expected to remain unchanged over the next 3 months.

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Tags: National Statistical Institute, business climate
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