Bulgaria Industry August 2019

Bulgaria

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).

FocusEconomics Consensus Forecast panelists expect industrial output to grow 1.8% in 2019, which is unchanged from last month’s estimate. For 2020, our panel again sees industrial output growing again 1.8%, which is also unchanged from last month’s projection.


Author:, Economist

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Bulgaria Industry August 2019

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: National Statistical Institute (NSI).


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