Bulgaria's business climate improves in February

Analysis

Bulgaria's business climate improved on a monthly comparison basis in February, the Sofia-based National Statistical Institute (NSI) said on Friday.

The overall business sentiment indicator increased by 1.8 percentage points (p.p.) due to a more favorable business climate in the construction and services sectors. The composite indicator in the services sector improved the most in February, by 5.3 p.p., backed by the more favorable managers' assessments and expectations about the business situation of the enterprises.

In the construction sector, the composite indicator increased by 3.6 p.p. thanks to a more optimistic forecast about the construction activity over the next 3 months, accompanied by certain expectations of additional hiring of personnel. In industry and retail trade the composite indicators remained approximately at their January level.

According to NSI, the uncertain economic environment remains the main obstacle to business development in all sectors. 

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