Bulgaria's business sentiment flattish in Nov

A decline in the business climate was registered in the industry sector, offset by a brighter sentiment in construction and services, whereas retail trade maintained its October level, the National Statistical Institute (NSI) said in a monthly survey.

The business sentiment indicator in industry fell by 2.9 pp on the back of more reserved assessments and expectations about the business situation of the companies. The projections of managers about production activity over the next three months are unfavourable, coupled with a decline in production assurance with orders.

On the bright side, the business climate indicator in construction grew by 3.5 pp this month, driven by the improved opinions and expectations of construction managers about the business situation of the enterprises. A quarter of managers forecast selling prices to rise over the next three months, while construction activity is seen to maintain its level.

The composite indicator in services, excluding trade, went up by 0.8 pp, reflecting more favourable assessments of the present business situation. The managers' opinions about the current services demand are improved, while expectations over the next three months are shifting to more moderate. Selling prices in the services sector are seen to increase in the next three months.

In November, the composite indicator in retail trade remained unchanged. The retailers’ opinions about the sales volume in the last three months and their expectations over the next three months are positive. Most retailers project selling prices to keep their level over the next three months.