Bulgaria: Industrial production expands at fastest pace in 20 months
March 7, 2013
In January, industrial output grew 7.9% over the same month last year in working-day adjusted terms. The print followed the revised 6.3% increase observed in December and was driven a strong increase in energy production and a rebound in manufacturing, marking the highest rise seen since May 2011.
A month-on-month assessment, however, does not corroborate the acceleration suggested by the annual figures, as seasonally adjusted growth in industrial production moderated from 2.9% in December to 1.1% in January. That said, building on the robust annual reading, the trend improved, with annual average growth in industrial production rebounding from minus 0.9% in December to plus 0.5% in January.
FocusEconomics Consensus Forecast participants expect GDP to expand 1.4% this year, which is unchanged from last month's Consensus. Next year, panellists see the economy growing 2.4%.