Bulgaria: GDP growth holds steady in Q4 2018
February 14, 2019
A preliminary release by the Statistical Institute showed that the economy grew a seasonally-adjusted 3.1% on an annual basis in the final quarter of 2018, matching the third quarter’s expansion. Both domestic and external demand contributed to growth in the fourth quarter.
A rudimentary breakdown showed that total consumption growth slowed to 5.3% in Q4 (Q3: +6.9% year-on-year), likely weighed by moderating wage growth and higher unemployment, on average, throughout the quarter. Fixed investment also lost traction in Q4, growing 4.0% in annual terms (Q3: +7.0% yoy). On the external front, exports of goods and services rebounded after contracting for two consecutive quarters (Q4: +0.8% yoy; Q3: -3.6% yoy), while growth in imports cooled to 2.5% in Q4 (Q3: +4.0% yoy).
On a quarter-on-quarter, seasonally-adjusted basis, growth remained unchanged from the third quarter at 0.7%.
More comprehensive data will be released on 7 March.
Author: Javier Colato, Economist