Bulgaria: Industrial output contracts in February

In February, industrial production dropped 1.0% over the same month of the previous year in working-day adjusted terms, contrasting the revised 4.3% increase recorded in January (previously reported: +3.5% year-on-year). February’s print marked the first contraction since May 2016 and reflected lower output in the electricity, gas, steam and air condition supply; and the mining and quarrying sectors.

A month-on-month comparison shows that industrial production declined a seasonally-adjusted 1.5% in February, a stronger decrease than the 0.5% drop observed in January.

Bulgaria Industrial Production Forecast

FocusEconomics Consensus Forecast participants see industrial production expanding 3.6% in 2018, which is up 0.1 percentage points from last month’s projection. For 2019, panelists see industrial output growing 3.1%.