Bulgaria: Industrial production improves in January
March 10, 2014
In January, industrial output rose 2.3% over the same month last year in working-day adjusted terms according to the National Statistical Institute. The figure came in above the flat reading recorded in December (previously reported: -1.0% year-on-year). January's expansion resulted from an increase in mining and quarrying and in manufacturing, which more than offset a decrease in electricity, gas, steam and air conditioning supply. On a month-on-month basis, industrial production rose a seasonally-adjusted 1.4% in January, which marked an improvement over the 0.2% decrease recorded in December. Annual average growth in industrial production fell from a flat reading in December to a 0.3% decrease in January. 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