Bulgaria Industry


Industry loses momentum in March

In March, industrial output rose 4.2% over the same month last year in working-day adjusted terms according to the National Statistical Institute. The figure marked a deterioration over the revised 5.9% increase recorded in February (previously reported: +6.5% year-on-year). March’s expansion resulted from an increase in manufacturing and in mining and quarrying.

On a month-on-month basis, industrial production fell a seasonally-adjusted 1.3% in March, which followed the 0.1% decrease recorded in the previous month. The figure marked the fastest contraction since May 2013. Annual average growth in industrial production rose from a flat reading in February to 0.6% in March.

FocusEconomics Consensus Forecast participants see industrial production expanding 2.3% in 2014, which is up 0.7 percentage points from last month’s Consensus. For 2015, panelists also see industrial output growing 2.3%.

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Bulgaria Industry Chart

Bulgaria Industry March 2014 3

Note: Year-on-year changes of working-day adjusted and annual average variation of industrial production index in %.
Source: National Statistical Institute (NSI).

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