Bulgaria: Industrial production growth accelerates in June

In May, industrial production grew 9.6% from the same month last year in working-day adjusted terms (April: +5.1% year-on-year). May’s expansion was mainly driven by strong growth in the manufacturing and the mining and quarrying sectors, which more than compensated for contractions in the mining and the electricity, gas, steam and air conditioning supply sectors.



A month-on-month comparison showed that industrial production grew a seasonally-adjusted 2.7% in May, which contrasted the 0.7% contraction registered in the preceding month. Meanwhile, annual average growth in industrial production was 4.0% in May, up from 2.9% in April.

FocusEconomics Consensus Forecast participants see industrial production expanding 3.4% in 2017, which is unchanged from last month’s Consensus. For 2018, panelists also see industrial output growing 3.4%.