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May 30, 2023 12:27 EEST
May 30 (SeeNews) - Bulgaria's business sentiment indicator rose further in May after edging up in April, the country's statistical office said on Tuesday.
The overall business sentiment indicator rose by 4.0 percentage points in May compared to April, following increases in all observed sectors, the National Statistical Institute (NSI) said in a monthly survey.
The business sentiment indicator in the construction sector grew the most - by 8.4 percentage points. The improvement was driven by optimistic assessments and expectations regarding the business situation of enterprises. The entrepreneurs' opinions about the construction activity over the last three months and their expectations over the next three months are positive. Despite ongoing challenges like the uncertain economic environment, costs of materials and the shortage of labour, managers forecast stable selling prices over the next three months.
The composite indicator in the retail sector went up by 4.7 percentage points. The rise reflects both the improved assessments and more favourable expectations of retailers about the business situation of the enterprises. Their views on the sales volume and orders placed with suppliers over the next three months are more positive, with a projected increase in selling prices.
In the services sector, the business climate indicator climbed by 3.2 points due to the managers’ favourable assessments of the present business situation of companies. The demand for services is seen as slightly improved, while the expectations over the next three months are optimistic. The biggest difficulties for the business development in services continue to be the uncertain economic environment and competition in the branch. More managers than in April expect a rise in selling prices within the sector over the next three months.
The business sentiment indicator in the industry sector added 1.9 points. Assessments about the present business situation are positive and the forecast production activity over the next three months is also improved, the NSI said. Managers forecast selling prices in the sector to remain unchanged over the next three months.
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