Bulgaria: Industrial production increases at fastest pace in seven months
November 7, 2013
In September, industrial output rose 0.5% over the same month last year in working-day adjusted terms, according to the National Statistical Institute. The reading marks the highest increase in seven months. In addition, it represents an improvement over the revised 2.9% contraction recorded in August (previously reported: -2.4% year-on-year). The expansion was the result of a strong rebound in manufacturing as well as in electricity, gas, steam and air conditioning supply.
On a month-on-month basis, industrial production fell a seasonally-adjusted 0.1% in September, which contrasted the revised 0.4% expansion recorded in August (previously reported: +0.9% month-on-month). In addition, annual average growth in industrial production edged up from minus 0.7% in August to minus 0.5% in September.
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