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Sep 26, 2007 15:43 EEST
September 26 (SeeNews) - Bulgaria's September business sentiment worsened for a third consecutive month as managers in all industries grew more moderate in their expectations but the business climate in the country remains favourable, the National Statistics Institute (NSI) said on Wednesday.
The general business climate indicator, which is based on business expectations in industry, construction, retail trade and services, fell by 1.4 points in September from a month earlier, the NSI said in a statement.
The industry sub-index remained flat in September after peaking to 13-year highs the previous three months, due to a shift in assessment and expectation of enterprises to moderate from optimistic, NSI said.
Nevertheless, industry executives are more upbeat about current and expected production activity accompanied by more favourable assessments of the current level of foreign orders.
Business sentiment in the construction sector in September stayed positive despite a 3.0-point fall. The construction managers, who previously expected the business situation in the next six months to improve, now expect it to remain unchanged.
The business climate in the retail sector for September decreased by 0.7 points from the previous month. Retailers expect the volumes of sales and orders in the next three months to stay unchanged.
The business climate in services sector fell by 3.1 points in September, due to a shift in managers. expectations. Their expectations are for the business climate in the next three months to remain unchanged.
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