Bulgaria: Industrial production continues to deteriorate
April 6, 2012
In February, industrial production plunged 5.5% over the same month last year in working-day adjusted terms. The result followed a revised 2.2% contraction recorded in January (previously reported: -3.6% year-on-year), thus marking a second consecutive negative reading. The result came on the back of sharp contractions in the manufacturing and energy production sectors. A month-on-month comparison corroborates the deterioration shown by the annual figures, as industrial production dropped 2.1% over the previous month in seasonally adjusted terms, which followed a 0.4% decline observed in January. Furthermore, the trend continues to point downwards, with annual average growth in industrial production decelerating from a 4.9% increase in January to a 3.2% expansion.