Bulgaria: Industrial production eases in March

Industrial output rose 2.8% in working day-adjusted annual terms in March, following the strong 6.9% expansion logged in February, which had marked a near two-year high. In turn, annual average growth in industrial output ticked up to 1.7% from 1.6% a month earlier.

March’s moderation largely reflected smaller output gains in both the mining and quarrying, and manufacturing sectors compared to February. Meanwhile, the utilities supply sector continued to contract in March.

In seasonally-adjusted terms, industrial output fell 0.9% on a monthly basis, contrasting February’s 1.6% month-on-month increase.

Bulgaria Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial output to grow 2.2% in 2019, which is up 0.1 percentage points from last month’s estimate. For 2020, our panel again sees industrial output growing 2.2%.