Increase of Total Business Climate Indicator in Bulgaria For August Compared to July

Business | August 28, 2017, Monday // 16:12| Views: | Comments: 0
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Bulgaria: Increase of Total Business Climate Indicator in Bulgaria For August Compared to July pixabay.com

In August 2017, the total business climate indicator increases by 0.5 percentage points compared to the previous month as a result of the improved business climate in retail trade and service sector, according to data of the National Statistical Institute (NSI).

The composite indicator ‘business climate in industry’ decreases by 2.2 percentage points in comparison with July which is due to the more reserved industrial entrepreneurs’ assessments and expectations about the business situation of the enterprises. In their opinion, the present production activity is preserved, but their expectations about the activity over the next 3 months are more favourable.

The uncertain economic environment continues to be the main problem for the business development. In the second place is the factor ‘shortage of labour’ which negative impact strengthens in the last month. As regards the selling prices in industry, the managers’ expectations are them to remain unchanged over the next 3 months.

 In August, the composite indicator ‘business climate in construction’ preserves approximately its level from the previous month . The inquiry registers an improvement in the construction entrepreneurs’ assessments about the present business situation of the enterprises, while their expectations over the next 6 months are slight worsened. The main factors limiting the enterprises remain the uncertain economic environment and competition in the branch. At the same time in the last month strengthen the unfavourable influence of the factor ‘shortage of labour’ is reported. The managers do not foresee a change in the selling prices in construction over the next 3 months.

The composite indicator ‘business climate in retail trade’ increases by 4.5 percentage points compared to Jul, which is due to the improved retailers’ assessments and expectations about the business situation of the enterprises. Their forecasts about the orders places whit suppliers from both domestic and foreign market over the next 3 months are also optimistic. The competition in the branch, uncertain economic environment and insufficient demand continue to be the main obstacles for the development of the activity.

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

In August the composite indicator ‘business climate in service sector’ increases by 1.9 percentage points as result of the improved managers’ assessments and expectations about the business situation of the enterprises. However, their forecasts concerning the demand for services over the next 3 months are more unfavourable . The most serious difficulties for the business remain to be connected with the competition in the branch and uncertain economic environment. Concerning the selling prices in the sector, managers’ expectations are for preservation of their level over the next 3 months

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Tags: business climate, service sector, retail, construction, National Statistical Institute (NSI), data
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