NSI: The Total Business Climate Indicator Rises 0.9 pp in February

NSI: The Total Business Climate Indicator Rises 0.9 pp in February

In February 2008 the economic conjuncture in the country remained favorable, the National Statistics Institute said. The total business climate indicator rose 0.9 percentage points above January, due to more optimistic opinions of managers in the sectors of construction, real trade and services.

Industry. In February the composite “Business climate in industry” indicator fell 0.8 percentage points compared to the previous month due to more moderate expectations expressed by managers in the sphere. Their assessment of production activity was also moderate.

Managers shifted their opinions from “increased” to “unchanged” activity, which led to a 8.7 percentage points decrease of the balance estimation. At the same time, expectations about the next 3 months remained favorable.

“The insufficient domestic demand” in February was again the number one factor limiting activity. Number two was the uncertain economic environment, and three - shortage of labor force, which was mentioned by one fifth of enterprises.

18% of industrial managers expect selling prices to rise over the several three months.

Construction. Prognoses about the business situation in the sector over the next 6 months were more optimistic, which led to a hike in the composite indicator of business climate of 4.9 percentage points above January level. Manager’s forecasts about construction activity and employment in the coming 3 months were also more positive.

The main factors limiting the activity of enterprises continue to be competition in the branch and labor shortage. More than one fourth of entrepreneurs pointed out financial problems, high materials costs and uncertain economic environment.

65.7% of managers think selling prices will remain unchanged in the next 3 months.

Retail trade. The economic conjuncture in retail trade remains favorable in February. The composite indicator of business climate rose 0.4 percentage points. Expectations for the next 3 months are more positive.

36.8% of retailers expect selling prices to rise in the next three months.

Service sector. The composite indicator of the business climate in the service sector slightly increased (by 0.6 percentage points) in February, due to increased optimism in the expectations if the business situation during the following 6 months.

Managers believe demand will b eon the rise. The most serious problem limiting their activity remains competition in the branch, mentioned by more than two thirds of entrepreneurs.

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