The National Statistical Institute (NSI) has published a survey which revealed that managers consider that the business climate in Bulgaria deteriorated in August compared to July.

The July survey revealed that the business climate in Bulgaria was essentially unchanged after the June survey showed that it was slightly improved after the May survey revealed gloomier views than in April.

At the end of August 2022, the total business climate indicator fell by 3.4 percentage points compared to July.

For industry, the indicator fell by 3.4 percentage points, as managers were cautious about the current situation and lowered their expectations for the next six months.

The retail trade indicator fell by 9 percentage points as retailers were cautious about the current situation and had a gloomy outlook for orders placed with suppliers over the next three months.

In the retail sector, the most serious challenge to business development remains the uncertain economic environment, according to the survey.

In the services sector, the indicator fell by one percentage point, with business leaders having an unfavourable opinion of the next six months.

In the construction sector, the indicator remained virtually unchanged from July, with the current situation considered favourable and business leaders more optimistic about the next three months.