Bulgaria Industry July 2019

Bulgaria

Bulgaria: Contraction in industrial production softens in July

September 10, 2019

Industrial output dropped 0.9% year-on-year in July, following a sharper 3.4% contraction in June, which had marked the lowest print in six years. Meanwhile, annual average growth in industrial output logged 1.1%, down from 1.3% a month prior.

July’s fall reflected contractions in the manufacturing, and electricity, gas, steam and air conditioning sub-sectors, only partially offset by higher production in the mining and quarrying industry. In the important manufacturing sub-sector, a particularly sharp decline was recorded in the production of fabricated metal products.

In seasonally-adjusted terms, industrial output rebounded 0.8% month-on-month in July (June: -1.8% month-on-month).

FocusEconomics Consensus Forecast panelists expect industrial output to grow 2.4% in 2019, which is up 0.1 percentage points from last month’s estimate. For 2020, our panel again sees industrial output growing 2.2%.


Author: Massimo Bassetti, Economist

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Bulgaria Industry July 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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