Bulgaria: Industrial production expands at fastest pace in nine months
December 9, 2013
According to the National Statistical Institute, industrial output rose 4.1% over the same month last year in working-day adjusted terms in October, which marked the fastest pace in nine months. The reading overshot the revised 0.8% expansion recorded in September (previously reported: +0.5% year-on-year) and was the result of an improvement in manufacturing. Conversely, electricity, gas, steam and air conditioning recorded flat growth over the same period last year.
On a month-on-month basis, industrial production rose a seasonally-adjusted 1.5% in October, which followed the revised 0.6% increase recorded in September (previously reported: -0.1% month-on-month). In addition, annual average growth in industrial production rebounded from minus 0.5% in September to 0.1% in October.
FocusEconomics Consensus Forecast participants see industrial production expanding 2.3% this year, which is up 0.7 percentage points from last month's Consensus. Next year, panelists see industrial output growing 2.3%, which is down 0.1 percentage points from last month's estimate.
Author: Dirina Mançellari, Senior Economist