Bulgaria: Industrial production slows down in February
April 8, 2013
In February, industrial output grew 5.1% over the same month last year in working-day adjusted terms. The print followed the revised 8.3% increase observed in January (previously reported: +9.7% year-on-year) and was mainly driven by a weaker increase in energy, gas, steam and air conditioning supply.
A month-on-month assessment suggests a sharper deterioration than the slowdown pointed by the annual data, as industrial production fell a seasonally adjusted 2.0% in February, which contrasted the 0.7% increase recorded in January and marked the lowest rate since December 2011. Despite the February slowdown, the trend points upwards, with annual average growth in industrial production rising from 0.6% January to 1.3% in February.
FocusEconomics Consensus Forecast participants expect industrial production to expand 2.0% this year, which is down 0.3 percentage points from last month's Consensus. Next year, panellists see the industrial output growing 3.5%.