Bulgaria: Industrial output falls sharply in December
February 8, 2019
Industrial output declined 3.8% in working day-adjusted annual terms in December, contrasting the 1.2% year-on-year expansion logged in November and marking the sharpest contraction in five-and-a-half years. December’s reading largely reflected a notable dip in manufacturing output, after expanding modestly in the previous month. Meanwhile, growth in the mining and quarrying sector came in flat in December and the utilities supply sector posted narrower losses compared to November. Annual average growth in industrial output inched down to 0.8% from 1.1.% a month earlier.
In seasonally-adjusted terms, industrial output fell 2.3% on a monthly basis, contrasting November’s 0.4% month-on-month increase.
Bulgaria Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial output to grow 2.7% in 2019, which is down 0.1 percentage points from last month’s estimate. For 2020, our panel sees industrial output growing 2.5%.
Author: Javier Colato, Economist