Bulgaria’s business climate indicator has increased by 0.5 percentage points compared to the previous month due to improved expectations of managers about the state of their businesses over the next six months, the statistical office NSI announced on Monday.

Business climate had improved in retail trade, industry and services but had worsened in the construction sector, the NSI said in a monthly business survey.

Retail trade led the increase with a rise of 2.8 percentage points in the sectoral sub-index due to more optimistic expectations of managers about the business position of their enterprises over the next six months. Forecasts about the volume of sales and orders placed with suppliers over the next three months also improved and selling prices were expected to remain little changed from their current levels.

Industry followed with the business climate sub-index for the sector rising by 1.2 percentage points in comparison with January. Managers’ expectations about the activity of their enterprises over the next three months have also improved. Most entrepreneurs expect the selling prices in industry to remain little changed from their present levels over the next three months, the NSI said.

In February, the business climate in services increased by 0.9 percentage points due to more favourable assessments of the companies’ present state and expectations about business activity over the next six months. However, managers’ opinions about the present demand for services, as well their expectations for the next three months were more moderate. Managers in services sector expect selling prices to remain unchanged over the next three months.

The sub-index for business climate in construction has dropped by 3.5 percentage points in February compared with January due to more pessimistic assessments of the present business position of the companies in the sector. Yet, managers expect construction activity to pick up in the next three months, the NSI said.

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