Business climate deteriorates

The business climate in Bulgaria deteriorated in October, showed National Statistical Institute (NSI) data. In September, there was no change and it was expected that the index had reached its bottom. However, the economic situation is again worsening.

The overall business climate decreased by 2.7 percentage points in October 2012, compared to the previous month. A decline was registered in all sectors - industry, construction, retail trade and services.

In industry the index dropped by 3.6 percentage points, compared to September. Both the assessments of the current state of enterprises and managers’ expectations for the next three months are worse. Production activity in the sector decreased. Orders have not changed as a whole but the number of those from abroad decreased.

The business climate index in the construction sector declined by 2.9 percentage points last month due to the negative expectations of managers about the situation of enterprises for the next six months. The activity in the sector decreased and the outlook for the next three months is unfavourable.

The situation in retail trade is not any better. The business climate index fell by 1.8 percentage points, compared to September. Traders expect a decline in sales and orders to suppliers over the next three months.

The business climate index in the service sector fell by 1.3 percentage points, compared to the previous month. The most serious factor impeding the activity in this sector is the uncertain economic environment.

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