Bulgaria Industrial production June 2016

Bulgaria

Bulgaria: Growth in industrial production rebounds strongly in June

August 8, 2016

In June, industrial production grew 3.9% over the same month last year in working-day adjusted terms. This represented a strong rebound from the decline seen in May (-3.4% year-on-year) and the fastest expansion since August 2015. June’s result reflected a substantial pick up in manufacturing and energy supply, which consists of electricity, gas, steam and air conditioning. Within the manufacturing category, fabricated metal products excluding machinery and equipment grew a remarkable 54.7% in June after recording flat growth in May. Conversely, mining and quarrying output contracted in June although at a softer rate than in May.

A month-on-month comparison showed that industrial production grew a seasonally-adjusted 3.9% in June, which was a sharp increase from the revised 1.7% drop registered in the preceding month (previously reported: -2.0% year-on-year). Meanwhile, annual average growth in industrial production edged down from 2.3% in May to 2.2% in June.

FocusEconomics Consensus Forecast participants see industrial production expanding 3.1% in 2016, which is down 0.1 percentage points from last month’s Consensus. For 2017, panelists see industrial output growing 3.3%.


Author: Marlène Rump, Senior Data Analyst

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Bulgaria Industry June 2016 2

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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