Bulgarian managers were more optimistic about the business climate in September than they were in August but negative sentiment in services and construction kept the overall index unchanged for a second month in a row, according to statistics office survey. The uncertain economic environment remained the biggest deterrent to a rise in activity.
Outlook in manufacturing improved by 2.6 points m/m in September after deteriorating by 4.7 points in August due to expectations of an increase in production in the next three months and a better business environment during the next six months. Manufacturers however remained concerned about low domestic demand.
The sentiment indicator in construction declined 2.5 points m/m in September. Construction managers were less pessimistic about the level of new orders but they became more worried about the overall condition of their sector and the expected activity in the next three months. They identified financial difficulties and increasing competition as the sector-specific obstacles to growth.
Entrepreneurs in retail trade surveyed in September had pretty much the same assessment of the business environment as in August. Furthermore, the business sentiment in the services sector worsened by 2.2 points over the month. In both sectors the expectations about the next six months were worse than they were a month ago.
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