Bulgaria's industrial production shrank 0.2% y/y in July 2014 after increasing in each of the 10 months before that, due to a slump in utilities output, working day adjusted statistics office data showed.
In seasonally-adjusted terms, the output inched up 0.2% m/m in July, following a1.1% m/m decline in June.
A high base effect from last year deepened the decline in the utilities sector to 11.9% y/y in July from 4.4% in June. On the other hand, manufacturing output rose 3.9% y/y, accelerating from a 2.2% y/y growth in the previous month. Production of motor vehicles excluding cars registered the biggest improvement, growing 43.5% y/y in July versus 2.6% y/y in June.
Mining and quarrying output fell 0.9% y/y in July after a 0.7% y/y decline in June, reflecting a 5.4% y/y drop in iron ore production. On the other hand, coal output rose 13.7% y/y after an 11.5% y/y drop in June.
Meanwhile, industrial sales fell 2.1% y/y in July, swinging from an 8.6% increase in June. On a monthly comparison basis, turnover rose 3.7%.
Related Articles
Bulgargaz files claim against Gazprom over lost gas supply
Gazprom faces another compensation claim for lost gas supply from a former European customer – this time Bulgaria’s state gas company Bulgargaz. Bulgaria was one of a number of European ... more
Bulgaria's BACB to acquire 99.94% of Tokuda Bank
The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated. The two banks are among the smallest in Bulgaria ... more
bne IntelliNews Southeast Europe Outlook 2024
This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
17 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago