Bulgaria: Industrial production slows down in November
January 10, 2014
In November, industrial output rose 2.8% over the same month of the previous year in working-day adjusted terms according to the National Statistical Institute. The figure came in below the revised 3.6% expansion recorded in October (previously reported: +4.1% year-on-year). November's reading resulted from an increase in mining and quarrying as well as 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 0.2% in November, which marked a deterioration over the revised 1.4% increase recorded in October (previously reported: +1.5% month-on-month). In addition, annual average growth in industrial production rose from 0.1% in October to 0.3% in November.
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