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Industrial index in Bulgaria reaches long-term maximum in May

Date: 30.05.2007

The business climate in Bulgaria for May 2007 remained favouarble, National Statistical Institute (NSI) said.

Industrial index decreased by two per cent as compared to its April levels and reached its new long-term maximum of 51 per cent since 1994, Focus news agency reported.

The increase resulted from the optimism of managers concerning their business status in the upcoming six months.

Insecure economic climate and weaknesses of economic legislation remained the main factors to hinder industry's activity. A total of 82.4 per cent of industrial companies predicted no changes in sales prices within the next three months.

Compared to April levels, fewer companies considered competition and bad weather conditions as factors which affected negatively their business in May. Economic climate was more unstable compared to April statisitics according to companies polled.

Construction prices are expected to remain unchanged in the next three months according to 72.1 per cent of the companies asked.

The compound business climate index in retail decreased by 4.9 per cent. Despite the decrease, the index level remains high.

Business climate in services remained favourable despite its decrease by 4.5 per cent in May.

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