Bulgaria's industrial output falls 0.2% y/y in July after 10 months of growth

By bne IntelliNews September 10, 2014

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%.

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