Bulgaria: Industrial production deteriorates in June
August 8, 2014
In June, industrial output rose 0.6% over the same month last year in working-day adjusted terms according to the National Statistical Institute. The figure marked the slowest increase since December 2013 and was a significant deterioration over the 5.0% increase recorded in May. June’s deceleration resulted from a contraction in mining and quarrying as well as in electricity, gas, steam and air conditioning supply.
On a month-on-month basis, industrial production fell a seasonally-adjusted 1.3% in June, which followed the 1.2% decrease recorded in the previous month. However, average growth in industrial production rose from 2.0% in May to 2.4% in June—the fastest growth pace since March 2012.
Author: Dirina Mançellari, Senior Economist