site.btaBusiness Climate in Industry, Retail Trade Improves in November

Sofia, November 30 (BTA) - In November 2017, the total business climate indicator remained largely unchanged from its October 2017 level, the National Statistical Institute reported on Wednesday. The business climate improved in industry and retail trade, was unchanged from October in the services sector, and deteriorated in construction.

The composite indicator Business Climate in Industry rose by 1.2 percentage points as a result of industrialists' optimistic expectations about the business situation of their enterprises over the next six months. At the same time, the present production activity is assessed as slightly underperforming, while forecasts about the activity during the next three months are more favourable.

In November, the composite indicator Business Climate in Construction dropped by 2.7 percentage points, month on month, which was due to construction entrepreneurs' more reserved assessments and expectations about the business situation of their enterprises. They find a certain improvement of the present construction activity, but their forecasts for the next three months are more unfavourable.

The composite indicator Business Climate in Retail Trade increased by 1.0 percentage point in November from October as a result of retailers' improved expectations about the business situation of their enterprises over the next six months. At the same time, their forecasts about the volume of sales over the next three months also remain favourable, albeit more reserved compared to the previous month.

In November, the composite indicator Business Climate in Service Sector' remained unchanged from October. The balance indicator of the present business situation of service enterprises declined by 1.6 percentage points as managers' assessments shifted to more moderate opinions. However, they are optimistic in their forecasts about the business development for the next six months and have favourable expectations about demand for services over next three months.