EKIP– Expert Club for Economics and Politics A Different Opinion
Dear readers, we at EKIP are officially restarting our "Monthly Macroeconomic Monitor" column!
The new format of the column will be a series of infographics that will be published each month after the publication of the relevant data from the NSI. Each infographic will focus on a different sector or a key indicator for the Bulgarian economy. In the first months, we will conduct a test with a limited number of infographics, the first of which focuses on the most recent NSI data for the industrial sector, published on October 9th! In the infographic below you can see (and read) what they show. In more detail:
Regarding industrial production - NSI data show that for the third consecutive month it grew by over 2% on an annual basis, although a slight slowdown was reported in August. The acceleration in the growth of the manufacturing industry to 5.05% keeps the overall growth rate in the sector above 2%, but in the mining and energy sectors the situation is quite different. In these sectors in August a decline of -17.38% and -2.21% was reported, respectively.
In terms of industrial turnover (sales), in August, sales in the industrial sector (total) grew by 2.40%, compared to 4.81% in July. This slowdown is due to both a slowdown in turnover on the domestic (Bulgarian) market and on the external one. Sales growth on the external international market in August slowed to 3.91% on an annual basis from 7.76% in July, while growth on the domestic Bulgarian market slowed to 0.58% from 1.95%.
