Bulgaria: Industrial output dips in July
Industrial production dropped 11.5% year on year in July (June: -9.4% yoy). Looking at the details of the release, manufacturing production contracted at a softer rate in July, while the contraction in mining output worsened.
On a monthly basis, industrial production decreased 1.3% in seasonally adjusted terms in July, contrasting June’s 0.4% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.0% in July, contrasting June’s plus 0.2% reading.