Bulgaria's Business Climate Indicator Tumbles in July
In July the total business climate indicator decreased by 3.2% compared to its level from June, according to the latest data released by the National Statistical Institute.
The decline is due to the more unfavorable business climate in all observed sectors – industry, construction, retail trade and service sector.
The business climate in industry indicator declined by 2.1% in comparison with June which is due to the worsening managers’ expectations about the business situation of the enterprises over the next 6 months.
The main obstacles for the business development in the branch remain the uncertain economic environment and insufficient domestic demand, as in the last month their negative influence has increased.
In July the business climate in construction indicator decreased by 3.0% due to the more reserved construction entrepreneurs’ expectations about the business situation of the enterprises over the next 6 months.
As regards the selling prices in construction the majority of the managers expect them to remain unchanged over the next 3 months.
The business climate in retail trade indicator dropped by 6.2% compared to the previous month which is due to the more unfavorable retailers’ assessments and expectations about the business situation of the enterprises.
Forecasts concerning the volume of sales and orders placed with suppliers over the next 3 months remain optimistic though more reserved in comparison with June.
In July the business climate in service sector indicator decreased by 2.8% due to the shifting of the managers’ expectations about the business situation of the enterprises over the next 6 months from “better” towards preserving “the same”.
As regards the demand for services the present tendency is assessed as improved, but the expectations over the next 3 months are more unfavorable. Concerning the selling prices the managers’ expectations are for them to remain unchanged over the next 3 months.
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