Bulgaria: Industrial output growth quickens to near two-year high in February

Industrial output jumped 6.6% in working day-adjusted annual terms in February, following the 2.6% rise logged in January and marking the strongest expansion since May 2017. February’s acceleration largely reflected the strong pick-up in manufacturing output compared to January. Meanwhile, growth of the mining and quarrying sector largely held steady while the utilities supply sector continued to contract in February. Annual average growth in industrial output climbed to 1.6% from 0.9% a month earlier.

In seasonally-adjusted terms, industrial output advanced 1.5% on a monthly basis, following January’s 3.6% month-on-month increase.

Bulgaria Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial output to grow 2.1% in 2019, which is unchanged from last month’s estimate. For 2020, our panel sees industrial output growing 2.2%.