Bulgaria Industry December 2019

Bulgaria

Bulgaria: Industrial production closes 2019 on a sour note

February 10, 2020

Industrial production fell 1.5% year-on-year in December, after dropping 0.2% in November. Meanwhile, average annual growth in industrial output logged 0.9%, up from 0.7% the month prior.

December’s slump reflected a downturn in manufacturing industries and another sharp contraction in the electricity, gas, steam and air conditioning supply sector, more than offsetting faster growth in the mining and quarrying industries. In seasonally-adjusted terms, industrial output slumped 1.8% month-on-month in December (November: -1.3% month-on-month).

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.8% in 2020, which is up 0.2 percentage points from last month’s forecast. For 2021, panelists see industrial production growing 2.1%.


Author: Massimo Bassetti, Economist

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Bulgaria Industry December 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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