Bulgaria: Industrial production contracts in January for first time in eight months
March 9, 2017
In January, industrial production decreased 1.2% from the same month last year in working-day adjusted terms, which marked the first contraction since May 2016. January’s contraction was mainly driven by decreases in the manufacturing and mining sectors. The electricity, gas, steam and air conditioning supply sector recorded an expansion, but it was not enough to prevent January’s overall decline.
A month-on-month comparison showed that industrial production declined a seasonally-adjusted 3.9% in January, which contrasted the 1.7% expansion registered in the preceding month. Meanwhile, annual average growth in industrial production edged up from 2.6% in December to 2.8% in January.
Author: Luis Lopez Vivas, Economist