Sofia, May 28, 2015/ Independent Balkan News Agency
By Clive Leviev-Sawyer of The Sofia Globe
Opinions among executives in Bulgaria about the country’s business climate improved in May 2015, the fifth consecutive month of increased optimism, according to the findings of a survey released by the National Statistical Institute (NSI) on May 27.
In May 2015 the total business climate indicator increased by 3.1 percentage points compared to its April level.
The rise was caused by more positive opinions among managers in the construction, retail and service sectors, the NSI said. The fourth sector surveyed, industry, saw opinions largely unchanged from the previous month.
In the “industry” sector, there were more favourable expectations about the activity of the enterprises in the next three months, while managers saw the main obstacles to business development in the sector as the uncertain economic environment and insufficient domestic demand.
Managers in the sector did not expect selling prices to change in the next three months.
The composite indicator regarding the business climate in the construction sector was up by 2.5 percentage points, with managers more optimistic about the coming three months, although more reserved compared to April.
The uncertain economic environment, competition in the branch and financial problems continue to be the main factors limiting the activity in the construction sector, as in the last month concern about the first two of these factors had grown, the NSI said.
In the retail sector, the indicator was up 5.7 percentage points from April, with managers’ opinions about the volume of sales over the past three months more favourable as well their expectations over the next three months.
But retail sector managers also pointed to the main obstacles to business development in the sector being the uncertain economic environment, competition in the sector and insufficient demand.
The service sector indicator was up by 8.1 percentage points.
Regarding the demand for services, the present tendency is estimated as improved, but the expectations over the next three months are more reserved, the NSI said. They pointed to the main obstacles as being the uncertain economic environment and competition in the sector.
As regards selling prices, retail sector managers foresee them remaining unchanged over the next three months, the NSI said.