In the second quarter, GDP expanded 0.5% over the same period the year before, which was in line with the 14 August preliminary estimate, and matched the expansion seen in the first quarter. The quarterly reading reflected how a further deterioration in the external sector was offset by stronger growth in private consumption. Private consumption accelerated from a 1.5% increase seen in the previous quarter to a 3.2% expansion. Meanwhile, gross fixed capital formation dropped 2.1% year-on-year, which nonetheless represented an improvement over the 5.4% decline recorded in the first quarter. The external sector, which had driven growth in the past, deteriorated markedly as imports outpaced exports. Exports of goods and services rebounded to a 3.9% expansion over the same period last year (Q1: -0.1% yoy), while imports surged 8.6% (Q1: 0.0% yoy). On a quarter-on-quarter basis, GDP added 0.3% in seasonally and working-day adjusted terms, which followed the flat growth seen in the previous quarter.
Private consumption continues to support weak growth
September 5, 2012
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Bulgaria Economic News
October 12, 2016
In September, consumer prices decreased 0.5% from the previous month, which followed the 0.1% decline recorded in August.
October 7, 2016
In August, industrial production grew 2.6% from the same month last year in working-day adjusted terms, accelerating from July’s 2.3% increase.
September 13, 2016
In August, consumer prices decreased 0.1% over the previous month, which contrasted the sharp 1.0% increase recorded in July.
September 5, 2016
Revised data released on 5 September confirmed that the economy expanded 3.0% over the same period last year in Q2.
August 12, 2016
In the second quarter, the economy expanded 3.0% over the same period last year, according to preliminary data released on 12 August.