Bulgaria GDP

Bulgaria

Bulgaria: Economy accelerates to four-year high in Q2

September 4, 2015

In the second quarter, the economy expanded 2.2% over the same period last year, according to more detailed data released on 4 September. The print was in line with the result published in a preliminary estimate and overshot the 2.0% expansion tallied in the previous quarter. Q2’s result came largely on the back of an improvement in private consumption and marked the strongest growth since Q2 2011.

Private consumption recorded a 1.2% expansion in Q2 (Q1: +0.3% year-on-year), while government spending rose 0.3% in the same quarter (Q1: +0.7% yoy). Fixed investment slowed from a 2.1% drop in Q1 to a 1.5% expansion in Q2.

On the external side of the economy, exports slowed from a 12.9% expansion in Q1 to a 6.1% rise in Q2. Imports followed suit and decelerated from a 9.7% increase in Q1 to a 8.5% rise in Q2. As a result of the sharp slowdown in exports, the external sector’s net contribution to the economy swung from plus 1.7 percentage points in Q1 to minus 1.7 percentage points in Q2.

FocusEconomics Consensus Forecast participants expect GDP to expand 1.8% in 2015, which is up 0.1 percentage points from last month’s Consensus. In 2016, panelists see the economy growing 2.0%.


Author: Ricard Torné, Lead Economist

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Bulgaria GDP Q2 2015 0

Note: Year-on-year changes of GDP in %
Source: National Statistical Institute (NSI) and FocusEconomics Consensus Forecast


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