Bulgaria: Contraction in industrial production softens in July
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).