Bulgaria Industry February 2020

Bulgaria

Bulgaria: Industrial production flat in February ahead of coronavirus blow

April 9, 2020

Industrial production virtually flatlined in February, inching up 0.1% year-on-year, which contrasted a 0.7% decrease in January. Meanwhile, average annual growth in industrial output was flat in February, down from 0.5% the month prior and the worst result in six years.

February’s marginal rebound reflected milder contractions in utilities supply and in the mining and quarrying industries; meanwhile, the manufacturing sector expanded at broadly the same pace as in January. In seasonally-adjusted terms, industrial output increased 1.1% month-on-month in February (January: +2.2% month-on-month seasonally-adjusted).

FocusEconomics Consensus Forecast panelists see industrial production contracting 4.7% in 2020, which is down 6.6 percentage points from last month’s forecast. For 2021, panelists see industrial production growing 3.1%.


Author: Massimo Bassetti, Economist

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Bulgaria Industry February 20 20

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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