The overall business climate indicator of Bulgaria remains the same. The downward trend in the construction sector continues.

In December, the overall business climate indicator of Bulgaria remained at its November level, announced the NSI (National Statistical Institute). Last month, the decrease was 2.1 percentage points. It was mainly predetermined by the precarious economic environment related to the crisis in the Eurozone. The other main reason, according to the managers, was reduced domestic demand. The construction sector registered the most severe downtrend as its index slumped by 5.0 points due to the gloomy outlook for the future of construction firms. The decline in November was 2.5 points, compared to that of October. There is also an unfavourable outlook for the sectors of construction activity and the production contract provision. Besides, a new wave of layoffs is expected in the coming months. Among the main negative factors hindering the development of the construction industry are financial difficulties. The composite indicator "business climate in industry" in December increased by 2.1 points, compared to November, when it declined by 4.2 points, compared to October. The current improvement is due to the slightly more optimistic expectations about the business situation in enterprises over the next six months.

The optimism of managers in the industrial sector is postponed for the second quarter of next year. Current manufacturing activity was assessed as low, while the stock of finished goods was estimated as increased and there are more unfavorable expectations for the rate of production and employment over the next three months than the assessment for the previous month. The reasons are the precarious economic environment and insufficient domestic consumption. The current highest level of uncertainty of 22.3 points in the industrial sector has not been observed in the last ten years, according to NSI data. Industrial entrepreneurs expect selling prices in the branch to increase over the next three months.

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