Bulgaria's Business Climate Improves in March

Bulgaria's business climate indicator has increased by 1.6 percentage points in March compared to the previous month, reflecting improved opinions of managers in industry, construction and retail trade.

Uncertain economic environment and low domestic demand remain the main causes of concern about the future operations among entrepreneurs, according to a monthly business climate survey released on Tuesday by the National Statistical Institute (NSI).

The sub-index for the industry sector has increased by 2.9 percentage points in March in comparison with February due to the more optimistic assessments and expectations of entrepreneurs about the business situation of their companies.

An increase of 2.4 percentage points was reported in the construction sector. The entrepreneurs' assessments about the present business situation of the enterprises has improved compared with February and their expectations for the next three months have grown more optimistic.

 The business climate indicator in retail trade has increased by 1.0 percentage point due to improved retailers' expectations about their business over the next six months and heightened sales forecasts for the next three months.

Services is the only sector of the economy, in which the business climate indicator has fallen in March, according to the survey. A drop of 1.3 percentage points was registered in the sector as managers' assessments and expectations regarding the performance of enterprises over the next six months became more reserved compared with February.