Bulgaria's Total Business Climate Indicator Falls 1.4 Points

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The total business indicator in Bulgaria fell 4 points below its August level due to less enthusiastic opinions of managers in all industries, a survey by national Statistical Institute revealed. Yet, the economic conjuncture in Bulgaria is expected to remain favorable, the data shows.

Production. The “industrial business climate index” remains unchanged from previous month.
Managers are optimistic about the current state of industrial enterprises in Bulgaria and their expectations for the following months is that it will remain unchanged (57.4% of companies), or will improve (40.4%). Meanwhile the number of orders, especially from abroad, is decreasing although, according to the survey, the overall situation in the sector is unchanged from previous month.

The main problems of the sector continue to be weak economic legislation and insufficient demand.

Almost a quarter of the companies in the industrial sector expect higher sales prices in the next quarter.

Construction. In September 2007 the overall state of the industry remains favorable, although, the main business climate indicator is 3 points down compared to August. The decline is again the result of less enthusiastic expectations of managers in the field.

They are more optimistic on the current construction activity. The number of orders last month has increased.

Competition in the filed, lack of employees, and financial problems have been cited as the most common problems here. “The cost of materials” was cited as an additional burden in September.
One third of enterprises in the sector are expecting an increase in prices in the next quarter.

Retail sales. The business indicator for this sector dropped 0.7 points below August level due to the moderate expectations of managers for the next 6 months. Expectations on the number of orders and sales are similar.

Managers foresee higher prices in the sector.

Services. The field indicator dropped 3.1 points below August level. Managers' opinions on development of the sector over the next several months have shifted from “improvement” to “unchanged”.

73.9% of companies expect no change of prices in the sector in the next quarter.

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