Bulgaria's industrial production growth slowed sharply to 0.6 percent year-on-year in May 2019 from an upwardly revised 2.7 percent in the previous month, as intermediate goods output rose at softer pace (0.2 percent vs 1.5 percent in April) while declines were seen in production of investment goods (-1.3 percent vs 6 percent) and energy (-0.3 percent vs 5 percent). On the other hand, consumer durable goods output increased 2.7 percent, faster than 0.5 percent in April, and consumer non-durable production surged 2.3 percent, reversing a 0.5 percent drop in the previous month. On a seasonally adjusted monthly basis, industrial output was unchanged. Industrial Production in Bulgaria averaged 3.23 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 2.90 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 3.70 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.