Bulgaria Industrial production November 2020


Bulgaria: Industrial output contracts at sharper pace in November

January 8, 2021

Industrial output dropped 5.0% in year-on-year terms in November, which was a sharper decline than October's 3.1% decrease. Looking at the details of the release, both manufacturing production and mining output contracted at a quicker pace in November.

On a seasonally-adjusted monthly basis, industrial output fell 1.5% in November (October: +0.4% mom), the worst result since April. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.9%, down from October's minus 5.5%.

FocusEconomics Consensus Forecast panelists see industrial production growing 4.5% in 2021, which is down 0.2 percentage points from last month’s forecast. In 2022, panelists see industrial production growing 3.6%.

Author:, Economist

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Bulgaria Industrial production Chart

Bulgaria Industry November 20 20

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

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