Bulgaria’s overall business climate indicator in July remained virtually unchanged from the previous month, inching up by just 0.1 percentage point, the country’s statistical office said on Friday.

A very slight decline was seen in the industry sector, where business sentiment edged down by 0.6 pp, whereas the construction indicator remained flattish, 0.3 pp lower than in June, the National Statistical Institute (NSI) said in a monthly business climate survey.

Industrial entrepreneurs’ assessments and expectations alike of the current business situation of the enterprises were reserved. Selling prices in the industry are expected to remain unchanged in the next three months while forecasts on activity in the same period are favourable.

In construction, there are positive expectations for activity in the next three months, although there has been an increase in the number of the clients delaying payments. Selling prices are seen to remain unchanged over the next quarter.

In retail, the business climate indicator edged up by 0.7 pp in July, on the back of improved assessments of the business situation of companies. However, retailers had negative forecasts on the volume of sales and orders placed with suppliers over the next three months. The predominant part of managers see prices in the sector remaining stable over the same period.

Lastly, the business sentiment indicator in the services sector posted the biggest increase, or 1.1 pp, compared to June. Managers shared favourable assessments of the present business situation of enterprises and an improved overview of demand. Nevertheless, expectations for the next three months have become reserved, while selling prices are estimated to remain without change in this sector as well.