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Bulgaria Reports Fragile Growth in Industrial Production Amid Declining Trends
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Bulgaria's National Statistical Institute has reported weak monthly growth in industrial production, ending a streak of 20 consecutive months of annual decline. Data from August reveals a modest increase of 0.8% compared to July, following a growth of 0.6% in July over June, and no change in June.
The annual decline rates are also easing, showing a decrease of 4.9% in June, 2.7% in July, and 2.6% in August. The figures indicate growth in the mining industry, which saw an increase of 22.1%, and a 2.3% rise in the processing industry. However, the energy sector experienced a notable drop of 11.8%.
In comparison to August 2023, growth was recorded solely in the mining industry, which increased by 15.3%. Conversely, the energy sector faced a decline of 10%, while the manufacturing industry saw a significant drop of 15.3%.
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