Business confidence climate still gloomy says GUS

Each month, the Central Statistical Office (GUS) polls around 3,500 companies from the manufacturing sector, 2,500 construction firms and 4,700 retailers, to gain business climate indices. Yesterday, GUS revealed November's results, which showed a gloomy picture of the economy. Companies across the board said they expected their financial situation to deteriorate in the coming months. Nevertheless, manufacturers are more optimistic. Companies in the paper, auto, chemical and food sectors expect a significant increase both in demand and production. Consumer electronics and clothes makers were the most pessimistic among manufacturers, most of which expect job cuts. GUS calculates its indices as a percentage difference between the positive and negative responses from the polled firms. (Reuters) K.Z.