Bulgaria: Economy accelerates in Q3
December 4, 2015
In the third quarter, the economy expanded 2.9% over the same period last year, according to more detailed data released on 4 December. The print was in line with the result published in a preliminary estimate and overshot the 2.6% expansion tallied in the previous quarter. Q3’s result came on the back of improvements in both total consumption and the external sector’s contribution.
Private consumption recorded a 1.0% expansion in Q3 (Q2: -1.3% year-on-year). Fixed investment improved from a 1.2% drop in Q2 to a 0.4% fall in Q3.
On the external side of the economy, exports accelerated from a 5.2% expansion in Q2 to a 5.8% rise in Q3. Imports decelerated from a 4.7% increase in Q2 to a 3.3% rise in Q3. As a result, the external sector’s net contribution to the economy rose from 0.2 percentage points in Q2 to 1.4 percentage points in Q3.
Author: Eric Denis , Economist