In October, the total business climate indicator decreased by 2.1 percentage points compared with September (from 15.3% to 13.2%). A decline was recorded in industry and the services sector, while in construction the indicator remained approximately at its previous month's level. Retail trade was the only sector to register an improvement, the National Statistical Institute (NSI) said.
According to NSI data, the indicator fell by 1.3 percentage points in September, with declines recorded in construction, retail trade and the services sector.
In October, the composite indicator "business climate in industry" decreased by 2.8 percentage points as a result of industrial entrepreneurs' unfavourable assessments and expectations regarding the business situation of their enterprises. In construction, the indicator remained approximately at its September level. According to construction entrepreneurs, a decline in new orders is expected over the next six months, which will also lead to a contraction in activity in the short term.
The business climate indicator in retail trade rose by 1.2 percentage points, driven by retailers' favourable assessments and expectations regarding the business situation of their enterprises. Meanwhile, the indicator in the services sector fell by 6.9 percentage points, reflecting a deterioration in managers' assessments and expectations concerning the business situation of their enterprises.