The industrial confidence indicator in Bulgaria declined to 21.8 in September 2019 from 23.9 in the previous month. This is the lowest reading since October 2016, amid decreases in total orders (-16.2 vs -15.4 in August), export orders (-25.3 vs -21.8) and stocks of finished goods (0.6 vs 0.9). In addition, prospects over the next three months regarding business situation (11.5 from 16.0), production (11.4 from 14.2), selling prices (0.2 vs 1.3) and employment (-1.8 vs 0.5) deteriorated. Business Confidence in Bulgaria averaged 21.68 Index Points from 1997 until 2019, reaching an all time high of 50.30 Index Points in July of 2007 and a record low of -20.90 Index Points in February of 1997.
Business Confidence in Bulgaria is expected to be 24.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Bulgaria to stand at 18.00 in 12 months time. In the long-term, the Bulgaria Business Confidence is projected to trend around 21.00 Index Points in 2020, according to our econometric models.