Bulgaria: Industrial production accelerates in February
April 8, 2014
In February, industrial output rose 6.5% over the same month last year in working-day adjusted terms, according to the National Statistical Institute. The figure came in well above the 2.5% increase recorded in January (previously reported: +2.3% year-on-year). February's expansion resulted from an increase in manufacturing as well as in electricity, gas, steam and air conditioning supply. On a month-on-month basis, industrial production rose a seasonally-adjusted 0.7% in February, which marked a slowdown over the 1.8% increase recorded in January. Annual average growth in industrial production swung from a 0.3% decrease in January to a 0.1% increase in February. FocusEconomics Consensus Forecast participants see industrial production expanding 2.3% in 2014, which is up 0.7 percentage points from last month's Consensus. For 2015, panelists see industrial output growing 2.3%.
Author: Dirina Mançellari, Senior Economist