Industrial production in Bulgaria shrank 0.9 percent year-on-year in July 2019, following a downwardly revised 3.4 percent decline in the previous month, as output fell at a softer pace for manufacturing (-1.1 percent vs -1.5 percent in June) and electricity, gas, steam and air conditioning supply (-2.4 percent vs -5.2 percent). In addition, production rebounded for mining & quarrying (4.4 percent vs -19.8 percent), amid notable recoveries in other mining & quarrying (15.6 percent vs -12.9 percent) and mining of metal ores (4.8 percent vs -19.5 percent). On a seasonally adjusted monthly basis, industrial production went up 0.8 percent, after a downwardly revised 1.8 percent decrease in the previous month. Industrial Production in Bulgaria averaged 3.18 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.