Industrial production in Bulgaria decreased 1.3 percent year-on-year in August 2019, following an upwardly revised 1.0 percent fall in the previous month. It was the third consecutive month of contraction in industrial activity, dragged by electricity, gas, steam and air conditioning supply (-4.6 percent vs -2.9 percent in July); mining & quarrying (-1.3 percent vs 4.7 percent) and manufacturing (-0.8 percent vs -1.3 percent). On a seasonally adjusted monthly basis, industrial production dropped 0.1 percent, after a downwardly revised 0.7 percent increase in the previous month. Industrial Production in Bulgaria averaged 3.16 percent from 2001 until 2019, reaching an all time high of 19.50 percent in May of 2004 and a record low of -22.60 percent in May of 2009.
Industrial Production in Bulgaria is expected to be -1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Bulgaria to stand at 1.90 in 12 months time. In the long-term, the Bulgaria Industrial Production is projected to trend around 3.10 percent in 2020, according to our econometric models.