Bulgaria: Industrial production drops in July
September 10, 2014
In July, industrial output fell 0.2% over the same month last year in working-day adjusted terms according to the National Statistical Institute. The figure marked the largest contraction in nearly a year and was a deterioration over the 0.9% increase recorded in June. July’s contraction resulted from a reduction in mining and quarrying as well as in electricity, gas, steam and air conditioning supply.
On a month-on-month basis, industrial production rose a seasonally-adjusted 0.2% in July, which contrasted the 1.1% decrease recorded in the previous month. However, annual average growth in industrial production remained unchanged at June’s 2.5%—the fastest growth pace since March 2012.