Bulgaria: Industrial production drops in January
March 7, 2012
In January, industrial production contracted 3.6% over the same month last year in working-day adjusted terms. The result contrasted the revised 0.1% expansion recorded in December (previously reported: -0.6% year-on-year), and thus marked the first negative reading since April 2010. The reading came on the back of sharp contractions in the manufacturing and energy production sectors. A month-on-month comparison corroborates the contraction shown by the annual figures, as industrial production declined 0.6% over the previous month in seasonally adjusted terms, which followed a 1.0% drop observed in December. Annual average growth decelerated to a 4.8% expansion, from a 5.9% increase in December, and marked the lowest level since February 2011.