Bulgaria’s business confidence indicator fell to 15.5 in October 2025 from 18.8 in the previous month, marking the lowest reading since March. Assessments of the current business situation weakened (17.8 vs 23.7), alongside a deterioration in outlook for both production activity (5.9 vs 10.6) and employment (4.0 vs 4.3) over the next three months. At the same time, expectations for the business situation over the next six months eased (13.2 vs 14.1), while pessimism heightened about the level of orders (-18.5 vs -15). Meanwhile, selling prices are expected to remain stable over the next months, with the balance indicator rising to 9.3 from 6.9 in September.