BUSINESS CLIMATE INDEX DOWN BY 3.8 POINTS IN MARCH
The overall business climate index, including the sectors of industry, construction, and retail trade, fell by 3.8 points in March (as compared to February), data of the National Statistic Institute (NSI) show. The plunge is attributed to pessimistic expectations in the construction sector. The overall business climate index went up 6.2 points in February, which was almost entirely due to greater optimism for the business climate in construction. A month later the opinion seems to be reconsidered. The assessment of the current business situation and the projections for the coming six months switches from good to satisfactory, while expectations for the future business climate goes from better to unchanged. Confidence in industry marks a fall for a second month in a row, which is due to the lower production expectations. NSI's polls show the industrial business climate index remains unchanged. The poor market demand is still pointed as the main problem of the industrial factories. The polls also show improvement of the business situation in retail trade. For a second month in a row the index goes up by 3.7 and 2.2 points in February and March respectively. The projections for the sales and orders to the suppliers in the next three months are also on the rise.