Bulgaria: Decline in industrial output softens in August
Industrial production fell 9.7% year on year in August (July: -11.6% yoy). Looking at the details of the release, manufacturing output contracted at a more moderate rate in August, and mining output also dropped at a more moderate, albeit still pronounced, rate.
On a seasonally adjusted monthly basis, factory output rebounded, rising 1.3% in August (July: -1.2% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 4.1%, down from July’s minus 2.0% reading.