Bulgaria: Industrial production decreases in December
February 7, 2014
In December, industrial output fell 1.0% over the same month of the previous year in working-day adjusted terms according to the National Statistical Institute. The figure contrasted the revised 3.2% increase recorded in November (previously reported: +2.8% year-on-year). December's reading resulted from a decrease in electricity, gas, steam and air conditioning supply, which more than offset an increase in mining and quarrying as well as in manufacturing.
On a month-on-month basis, industrial production fell a seasonally-adjusted 1.0% in December, which marked a deterioration over the 0.2% increase recorded in November. In addition, annual average growth in industrial production swung from a 0.4% increase in November to a 0.3% decrease in December.
FocusEconomics Consensus Forecast participants see industrial production expanding 2.3% in 2014, which is up 0.7 percentage points from last month's Consensus. For 2015, panelists see industrial output growing 2.3%.
Author: Dirina Mançellari, Senior Economist