Bulgaria: Industrial production contracts for second straight month in April
June 7, 2013
In April, industrial output dropped 1.3% over the same month last year in working-day adjusted terms. The print, nonetheless, marked an improvement over the revised 3.0% fall observed in March (previously reported: -3.6% year-on-year). The result was mainly driven by a drop in the mining and quarrying sector.
A month-on-month assessment further corroborates the improvement pointed out by annual data, as industrial production grew a seasonally adjusted 1.1% in April, which contrasts the revised 1.7% drop recorded in March (previously reported: -2.3%). Despite the April figures, the trend is flattening, with annual average growth in industrial production stabilizing at the 1.0% observed in March.
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%.