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Bulgaria’s business climate deteriorates in November 2011

29. November, 2011

According to the data from the National Statistics Institute (NSI), Bulgaria’s business sentiment index dropped by 2.1 percentage points in November compared to the previous months.

The conditions have deteriorated mainly in the manufacturing and constructions sector, while slightly improving in the trade sector, where the index advanced by 2.5 per cent percentage points, exceeding the long-term average level by 2.8 points.
However, financial problems of domestic retailers have started to hit home and business expectations in terms of sales volumes and orders to suppliers are conservative in November.

Because of mounting pessimism in the construction industry, the business sentiment index fell by 2.5 percentage points in November. Forecasts for the sector’s activity also remained unfavorable. At the same time, businesses project that they will most likely resort to job reductions in coming months. Domestic constructions firms recorded a decline in their construction volumes in November.