FX.co ★ Bulgaria Business Confidence Improves to 5-Month High

Bulgaria's industrial business confidence indicator experienced an uptick, reaching 18.8 in September 2025, compared to 18.3 in the previous month, marking the highest level since April. This positive move can be attributed to a more favorable assessment of the current business environment (23.7 against 20.2 in August) and enhanced forecasts for production activities in the upcoming three months (10.6 versus 9.3). Entrepreneurs expressed slightly reduced pessimism about new order volumes (-15.0 compared to -15.8). On the other hand, there was a slight easing in expectations concerning the business climate for the next six months (14.1 from 16.4), alongside softened employment forecasts (4.3 in contrast to 6.1). Despite this overall positive shift, the sector remains challenged by an unpredictable economic climate (40.9% against 44.5%) and labor shortages (36.6% compared to 34.7%). Furthermore, managers anticipate that selling prices will generally remain stable in the coming quarter, as indicated by an increase in the balance indicator to 6.9 from August's 6.1.