Total Business Climate Indicator Up 1.6 Percentage Points In September, National Statistics Institute Says

In October 2007 the total business climate indicator rose 1.6 percentage points above its September level in result of more favourable development of economic conjuncture in industry, construction and retail trade, shows data released by the National statistics institute (NSI).

Industry. In October the composite business climate indicator in industry rose 1.9 percentage points, versus September, on higher managers' expectations about business situation of industrial enterprises over the next 6 months. Prognoses about the production activity over the next 3 months were also very optimistic.

Between July - October 2007 capacity surplus declined, the average capacity utilization in industry rose by 1.5 percentage points to 71.9%. According to managers' opinions, competitiveness of enterprises, both on domestic and foreign market, did not change significantly over the past 3 months, and managers do not expect any substantial changes in export in the next 3 months.

Selling prices of most industrial enterprises (80.2%) are not expected to change in the next 3 months.

Construction. The business climate indicator rose 2.6 percentage points above September level on more favorable expectations of managers in the sector. At the same time, construction activity is projected at the same level in the next 3 months (52.9% of the enterprises), or to increase slightly (36.8%). The data shows more clients delayed payments in the period.

Concerning factors limiting the activity, less enterprises indicated problems related to competition in the area, but economic environment was more uncertain as compared to September, according to the data (insufficient demand and shortage of materials and equipment).

Selling prices in the construction sector are expected to remain at the same level.

Retail trade. In October the composite business climate indicator in retail trade rose 2.1 percentage points, on rising optimism of retailers for the next 6 months.

The main factors limiting business development in the branch were insufficient demand and competition, which were pointed out by 41.2 and 38.2% of the enterprises.

More than one third of retailers expect selling prices to rise in the following months.

Services. In October 2007 the composite indicator of business climate in service sector dropped 0.9 percentage points on more moderate expectations of managers in the filed.

However, their expectations on development in the next 6 months were more optimistic.

60.9% managers said demand will stay at the same level in the next 3 months, and 32.6% project an increase.

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