Bulgarian business climate indicator keeps rising in June

Bulgarian business climate indicator keeps rising in June
By bne IntelliNews June 29, 2020

Bulgaria's overall business climate indicator increased 11.4 points m/m in June after going up 11.8 points m/m in May, statistics office data showed on June 29. The business climate improved in industry, construction, retail trade and services.

The indicator declined in March and April as Bulgaria declared a state of emergency in mid-March and imposed tough restrictions to contain the spread of coronavirus (COVID-19), which affected many sectors of the economy immediately. However, it started rising in May after relaxation of most of the restrictions.

In June, the composite business climate indicator in industry increased 9.7 points m/m with the assessment of the business situation of companies being optimistic.

The composite business climate indicator in construction increased 14.4 points m/m in June thanks to the positive expectations the situation of the sector.

In retail trade, the indicator increased 15.8 points m/m, also thanks to the more optimistic expectations for the coming months.

The composite business climate indicator in services increased 7 points m/m in June, thanks to the positive expectations for the coming six months.

Bulgaria's industrial production decreased 15.7% year on year in April, after declining 6.9% y/y in Mar. Construction output decreased 15% year on year in April, after falling by revised 13.8% y/y in March. Retail sales (at constant prices) contracted 19.9% year on year in April, worsening from the 14.6% y/y fall in March.

Data

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