Bulgaria's Industry Grows for Third Consecutive Month

Bulgaria's industrial production has seen growth for the third consecutive month, with a reported increase of 0.8% in August compared to July, following minimal gains of 0.1% in June and 0.6% in July, as per data released by the European Statistical Office. However, the domestic industry is still experiencing an overall downward trend on an annual basis, with the last recorded growth occurring in December 2022.

In contrast, industrial production in the Eurozone grew by 1.8% and by 1.3% across the European Union during the same period. This follows a decline in July, where production fell by 0.5% in the Eurozone and by 0.3% in the EU. Year-on-year, industrial output increased by 0.1% in the Eurozone and by 0.2% in the EU.

Examining specific sectors, in the Eurozone, industrial production saw a decrease of 0.3% for intermediate goods, while energy production increased by 0.4%. Capital goods saw a notable rise of 3.7%, durable consumer goods increased by 1.7%, and non-durable consumer goods rose by 0.2%. Meanwhile, in the EU, intermediate goods experienced a decline of 0.2%, and non-durable consumer goods decreased by 0.4%. However, energy production rose by 0.2%, while capital goods increased by 3.6%.

On a broader scale, the largest monthly increases were observed in Ireland (4.5%), Germany, and Lithuania (3.3%), with Malta also reporting a gain of 2.7%. Conversely, the most significant decreases were recorded in Luxembourg (9.2%), Croatia (4.6%), and Denmark (4.5%). Year-on-year, the Eurozone's industrial production contracted by 2.7% in intermediate goods and 4.8% in consumer durables but increased by 2.6% in energy and by 2% in non-durable consumer goods.