Bulgaria: GDP growth records fastest upturn in a year in Q2
GDP reading: According to a preliminary estimate, GDP growth gained steam to 2.0% year on year in Q2, from 1.9% in Q1 and marking the fastest increase in a year.
On a seasonally adjusted quarter-on-quarter basis, economic growth was unchanged at Q1’s 0.5% in Q2.
Drivers: According to preliminary data, final consumption growth softened to 2.8% year on year in Q2 (Q1: +3.4% yoy). Additionally, fixed capital formation lost steam, growing by 6.0% in annual terms (Q1: +9.0% yoy). On the external front, exports of goods and services rebounded by 0.9% year on year (Q1: -2.1% yoy), and imports rose 2.5% yoy (Q1: -3.8% yoy).
A second release will be available on 5 September.