Home News The industrial production increases by 1.7% on a yearly basis

The industrial production increases by 1.7% on a yearly basis

This is the most significant increase since April, NSI data shows

The index of industrial production in Bulgaria, calculated from seasonally adjusted data, increases in October by 1.1% compared to September, when it increased by 0.7%. This is shown by preliminary data from the National Statistical Institute (NSI) published today.

On an annual basis, industrial production increased by 1.7% in October, which is the strongest growth since April. The data can be interpreted as positive and giving grounds to maintain the expectations for stable growth of Bulgarian economy at the beginning of the fourth quarter.

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In October 2019, compared to the previous month was registered an increase in manufacturing – by 1.8% and in mining – by 0.7%, while a decrease – in production and distribution of electricity, heat and gas – by 4.6%.

More significant growth was recorded in manufacturing, not classified elsewhere – by 18.1%, food production – by 6%, manufacture of motor vehicles, excluding cars – by 5.3%, leather processing; manufacture of footwear and other leather products without fur and manufacture of metal products, except machinery and equipment – 4.4% each. A significant decrease was registered: in the manufacture of electrical equipment – by 3.3%, in the manufacture of textiles and textile products, without clothing – by 2.8%, in the manufacture of tobacco products – by 2%.

On an annual basis, an increase in the industrial production index, calculated from the calendar-adjusted data, was reported in the mining industry – by 9.4%, and in the manufacturing – by 2.5% and a decrease in the production and distribution of electricity and gas – by 6.8%.

There was a significant increase within 12 months in the production, not classified elsewhere – by 36.3%, the production of basic metals – by 17.9%, the production of food products – by 13%, the printing activity and reproduction of recorded media – by 5.9%. The largest decrease was observed: in the manufacture of tobacco products – by 28.1%, the production of paper, cardboard and paper and paperboard articles – by 8.4%, the manufacture of medicines and products – by 7.2%, manufacture of chemical products – by 5.9%.

Source: https://www.investor.bg/ikonomika-i-politika/332/a/promishlenoto-proizvodstvo-narastva-s-17-na-godishna-baza-294629/