Bulgaria Business Confidence Falls to 6-Month Low

Bulgaria’s industrial business climate index fell to 14.1 in October 2026 from 16.9 in the previous month, marking its lowest reading since April. Firms became less optimistic about the current business situation (15.7 vs 20.5 in September), while production expectations for the next three months (6.0 vs 7.7) and the next six months (12.5 vs 13.4) also weakened. Total order assessments deteriorated further (-22.3 vs -20.7). Moreover, concerns increased over insufficient domestic demand (26.9 vs 24.8), insufficient foreign demand (24.3 vs 22.4), labor shortages (36.4 vs 31.2), energy shortages (1.5 vs 1.2), competition from imports (10.8 vs 10.7), and financial problems (5.8 vs 4.8). Selling price expectations also rose notably (16.5 vs 12.5). In contrast, employment expectations for the next three months strengthened, remaining positive at 1.7, up from 0.9 in September.

Bulgaria’s industrial business climate index edged up to 16.9 in September 2026 from 16.3 in the previous month. The improvment was largely due to higher optimism in assessments over the current business situation of enterprises (20.5 vs 18), as concerns over insufficient foreign demand eased ( 22.4% vs 27.3%). Still, the main obstacles to business activity remain related to the uncertain economic environment (46% vs 43.3%) and labor shortages (31.2% vs 29%). Looking ahead, employment expectations improved (-0.9 vs -3.6). Selling price pressures are expected to remain largely unchanged over the next three months (12.5 vs 11.9), while forecasts for production activity are seen as favorable (7.7 vs 5.5).

Bulgaria’s industrial business climate index fell to 16.3 in August 2026 from 17.2 in the previous month. This reflected weaker assessments of the present business situation (18.0 vs 20.4 in July), despite improved expectations for the next six months (14.7 vs 14.0). Production assessments for the next three months also eased to 5.5 from 8.4, while employment expectations deteriorated to -3.6 from -1.8. Insufficient foreign demand became a more pressing constraint (27.3% vs 25.3%), while labour shortages eased (29.0% vs 33.3%) and concerns over the uncertain economic environment were broadly unchanged (43.3% vs 43.6%). Selling price expectations increased to 11.9 from 10.4. Meanwhile, current production activity improved slightly (-4.3 vs -5.4), while total orders also increased (-18.9 vs -20.2), supported by stronger domestic (-24.0 vs -24.8) and foreign orders (-22.7 vs -26.5).