Bulgaria: Contraction in industrial production deepens in August
October 9, 2019
Industrial production dropped 1.3% year-on-year in August, after falling a revised 1.0% in July (previously reported: -0.9% year-on-year). Meanwhile, annual average growth in industrial output logged 0.9%, down from 1.1% in the previous month.
August’s fall reflected an across-the-board contraction in all subsectors. Notably, mining and quarrying output fell after having rebounded a month prior, while utilities supply contracted at a sharper pace. That said, although manufacturing output shrank, it did so at a softer pace than in the previous month.
In seasonally-adjusted terms, industrial output fell 0.1% month-on-month in August (July: +0.7% month-on-month).
Author: Nicolás J. Aguilar, Economist