Bulgaria: Industrial production drops in December
February 7, 2012
In December, industrial production contracted 0.6% over the same month the year before in working-day adjusted terms. The result contrasted the revised 1.1% expansion recorded in November (previously reported: +0.6% year-on-year), and marked the first negative reading since April 2010. A month-on-month comparison corroborates the contraction shown by the annual figures, as industrial production declined 1.3% over the previous month in seasonally adjusted terms, following the 0.5% drop observed in November. For the full year 2011 industrial production expanded 4.9%, which was above the 2.0% increase in 2010. According to Bulgarian Finance Minister Simeon Djankov the economy is likely to grow between 2.5% and 3.0% this year.