Business sentiment in Bulgaria gloomier

by Cristian Florescu

A regular monthly poll by the National Statistical Institute (NSI) has found that business sentiment declined in Bulgaria in March, after three consecutive months of improvement, writes The Sofia Globe

The NSI said that in March, the total business climate indicator fell by 4.8 percentage points compared with February, pushed down by the unfavourable business climate in the industry, the retail trade and the service sector in Bulgaria.

The industry indicator plummeted by 7.1 percentage points, with managers reserved about the situation of their businesses and having worsened expectations about the next three months.

Their forecasts about production activity in the next three months were pessimistic, the NSI said.

The retail trade indicator plunged by 7.8 percentage points, with managers reserved about the next six months and have tempered their view of the volume of sales.

In the service sector, the indicator was down by 2.1 percentage points, with managers having unfavourable expectations about the next six months.

In the construction sector, the indicator was largely unchanged compared with February, while managers held favourable views about the coming three months.

However, the number of construction sector clients delaying payments had increased, the NSI poll found.

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