Bulgaria Industrial production May 2016

Bulgaria

Bulgaria: Growth in industrial production drops for the first time in 19 months

July 8, 2016

In May, industrial production fell 3.3% over the same month last year in working-day adjusted terms. This represented the first decline since October 2014 and the sharpest fall since June 2013. May’s result reflected a decrease in mining and quarrying, manufacturing and energy supply. Energy supply, which consists of electricity, gas, steam and air conditioning, registered the ninth consecutive contraction.

On a month-on-month basis, industrial production fell a seasonally-adjusted 2.0% in May, which was steeper than the revised 0.4% drop registered in the preceding month (previously reported: -0.1% year-on-year). Meanwhile, annual average growth in industrial production dropped from 3.0% in April to 2.3% in May.

FocusEconomics Consensus Forecast participants see industrial production expanding 3.2% in 2016, which is down 0.2 percentage points from last month’s Consensus. For 2017, panelists see industrial output growing 3.3%.


Author:, Economist

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Bulgaria Industry May 2016

Note: Year-on-year changes of working-day adjusted and annual average variation of industrial production index in %.
Source: National Statistical Institute (NSI).


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