Bulgaria's business climate worsens again, with services most pessimistic
The National Statistical Institute's overall indicator falls 2.1 points to 13.2%. Only retail trade shows an improvement in sentiment.
Graphic: TERRA WORLD NEWS (own graphic based on the sources listed)
Bulgaria's business climate deteriorated for a second consecutive month in October. According to the National Statistical Institute (NSI), the overall indicator fell 2.1 points, from 15.3% in September to 13.2%. It had already dropped 1.3 points in September. The NSI described the development as a renewed deterioration in business conditions.
The sharpest decline was in services, where the indicator fell 6.9 points as managers took a gloomier view of their companies' situation and prospects. In industry, it fell 2.8 points for the same reason. In construction, the climate was almost unchanged, but builders expect fewer new orders over the next six months. Only retail trade improved, with the indicator rising 1.2 points on better assessments and expectations among retailers.