Flag of bg

Bulgaria Business Confidence

Bulgaria's business confidence increased by 2.7% to 18.8 points in September 2025, the highest in five months. This rise was supported by improved expectations for the business situation and a stronger three-month outlook for production activity. Employment sentiment also strengthened. However, pessimism grew regarding new orders, moving from -15.8 to -16.3. Businesses cite an uncertain economic environment and labor shortages as key challenges. Bulgaria's record low business confidence was -10.2 points in April 2020 and record high was 31.8 points in June 2018.

Monthly Historical Data (2015-2025)

(in points)
Month Business Confidence (points)
Sep 2025 18.8
Aug 2025 18.3
Jul 2025 17.4
Jun 2025 18.4
May 2025 18.2
Apr 2025 19.3
Mar 2025 14.5
Feb 2025 18.4
Jan 2025 17.4
Dec 2024 17.7
Nov 2024 15.8
Oct 2024 13.3
Sep 2024 18.3
Aug 2024 23.5
Jul 2024 16.5
Jun 2024 17.5
May 2024 17.8
Apr 2024 24.7
Mar 2024 23.5
Feb 2024 24
Jan 2024 23.3
Dec 2023 20.7
Nov 2023 20.6
Oct 2023 23.5
Sep 2023 25.2
Aug 2023 25.1
Jul 2023 26.3
Jun 2023 26.9
May 2023 26.7
Apr 2023 24.8
Mar 2023 22.5
Feb 2023 23.3
Jan 2023 22
Dec 2022 21
Nov 2022 18.5
Oct 2022 17.7
Sep 2022 19
Aug 2022 18.5
Jul 2022 21.9
Jun 2022 19.8
May 2022 18.1
Apr 2022 18.9
Mar 2022 14.3
Feb 2022 21.4
Jan 2022 18.7
Dec 2021 16.1
Nov 2021 16.8
Oct 2021 13.6
Sep 2021 17.5
Aug 2021 18.4
Jul 2021 19.9
Jun 2021 21.3
May 2021 29.7
Apr 2021 18.4
Mar 2021 19.8
Feb 2021 18.6
Jan 2021 18.5
Dec 2020 12.4
Nov 2020 9.8
Oct 2020 10.1
Sep 2020 11.4
Aug 2020 11.2
Jul 2020 11
Jun 2020 10.9
May 2020 1.2
Apr 2020 -10.2
Mar 2020 21.6
Feb 2020 26.8
Jan 2020 26.8
Dec 2019 21.8
Nov 2019 21.1
Oct 2019 20.8
Sep 2019 21.8
Aug 2019 23.9
Jul 2019 24.7
Jun 2019 26.4
May 2019 27.5
Apr 2019 27.7
Mar 2019 25.7
Feb 2019 26.1
Jan 2019 28.4
Dec 2018 24.3
Nov 2018 27
Oct 2018 25.2
Sep 2018 27.6
Aug 2018 27.7
Jul 2018 29.6
Jun 2018 31.8
May 2018 30.3
Apr 2018 28.9
Mar 2018 28.2
Feb 2018 28.1
Jan 2018 28.6
Dec 2017 24.8
Nov 2017 26.7
Oct 2017 25.5
Sep 2017 28.3
Aug 2017 26.4
Jul 2017 28.6
Jun 2017 27.3
May 2017 28.5
Apr 2017 27.2
Mar 2017 27.6
Feb 2017 25.5
Jan 2017 26.2
Dec 2016 25.3
Nov 2016 23
Oct 2016 21.1
Sep 2016 25.5
Aug 2016 24.5
Jul 2016 23.8
Jun 2016 23.7
May 2016 22.9
Apr 2016 18.8
Mar 2016 26.9
Feb 2016 24
Jan 2016 22.8
Dec 2015 23
Nov 2015 22.6
Oct 2015 21.8
Sep 2015 19.5

Recent Events

datetime event actual previous consensus
2025-09-30 04:00 AM Business Confidence (Sep) 18.8 18.3 -
2025-08-29 04:00 AM Business Confidence (Aug) 18.3 17.4 -

Next Release Date :

Bulgaria Business Confidence : Definition
Bulgaria business confidence measures the overall economic sentiment of Bulgarian businesses. Calculated by the National Statistical Institute from surveys of managers in industry, construction, retail and services, it aggregates assessments of past activity, future expectations and current order levels.