Bulgaria: GDP growth confirms flash estimate
December 6, 2012
In the third quarter, GDP expanded 0.5% over the same period the year before. The figure was in line with the 15 November preliminary estimate and matched the expansion seen in the previous two quarters. The quarterly expansion mainly reflected firm growth in private consumption, which expanded 3.0% year-on-year (Q2: +2.9% yoy).
In addition, gross fixed capital formation expanded 1.0%, which contrasted the 2.1% decline recorded in the second quarter. Net exports, however, deteriorated more than previously reported amid a downward revision to exports and an upward revision to imports.
Exports of goods and services increased a revised 3.3% over the same period the previous year (previously reported: +3.5% yoy), while import growth was revised up to a 4.0% increase (previously reported: +3.0% yoy). On a quarter-on-quarter basis, GDP expanded an unrevised 0.1% in seasonally and working-day adjusted terms, which came in below the 0.3% growth seen in the previous quarter.