Bulgaria: Growth in industrial production remains broadly stable in February

In February, industrial production rose 2.1% over the same month last year in working-day adjusted terms, which was just below January’s 2.2% increase (previously reported: 3.0%). February’s reading reflected faster growth in manufacturing output, especially in the manufacturing of textile and pharmaceutical products. Conversely, mining and quarrying as well as energy supply decelerated in February.

On a month-on-month basis, industrial production fell a seasonally-adjusted 0.2% in February, which was below the 0.4% rise recorded in the previous month. Annual average growth in industrial production reached 2.9% in February, which mirrored January’s reading.

FocusEconomics Consensus Forecast participants see industrial production expanding 3.0% in 2016, which is unchanged from last month’s Consensus. For 2017, panelists see industrial output growing 3.2%.