Bulgaria ranks third in terms of decline in industrial output in the EU for October

With a decrease of 4.2%, Bulgaria ranks third in the EU in terms of decline in industrial output on an annual basis for October, showed data of the European statistical office Eurostat. Only Ireland and Italy ranked behind Bulgaria in terms of this major economic indicator, with a decline of 16.2% and 6.2%, respectively. In front of Bulgaria are countries like the Netherlands and Portugal, each with a decline of 3.9%, and Germany (-3.8%). The largest industrial growth on an annual basis was reported by Lithuania (10.3%), Slovakia (8.1%) and Malta (4.5%).

In October 2012, the decline in industrial output in the Eurozone was 3.6%, compared to the same month last year, and 3.1% on average across the EU, i.e. the decrease in Bulgaria is considerably higher than the EU average.

The biggest decline in October, compared to September, was reported by Estonia (-5.3%), the Netherlands (-4.7%), Slovakia (-3.9%) and Germany (-2.4%). The largest increase was registered by the industries of Portugal (+4.8%), Ireland (+2.7%) and Poland (+1.9%). Meanwhile, Bulgaria reported a 0.4% decrease.

The new contraction of industrial production in October was mainly attributed to the strong drop in the production of consumer durable goods (-3.8%) and investment goods (-3%). Production of energy decreased by 1.5% and the output of goods for intermediate consumption - by 1.2%.

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