Industrial Production in Bulgaria Up and Down in EU

Trevor Jackson
April 13, 2017

Eurozone industrial production declined 0.3% in February compared with expectations of a 0.1% increase for the month and the January data was revised significantly lower to an increase of 0.3% compared with the original estimate of 0.9%. Index of Industrial Production had recorded a 3.3 per cent growth in January, the data showed.

Likewise, the overall consumer goods production declined by 5.6 per cent in the month against 0.6 per cent growth in year-ago period. Noting that the manufacturing sector continues to languish, Sunil Sinha, Principal Economist, India Ratings, said, "The overall macro-economic environment is conducive for growth but there are cyclical/structural factors both at the global as well as domestic level which is making the industrial/ manufacturing recovery a long drawn out process leaving one to wonder when will we reach the end of tunnel".

The annual increase strengthened to 1.2% from 0.2% previously, although this was notably lower than the expected figure of 2.0%.

Growth remains fragile in manufacturing and needs continued efforts to make the sector competitive, the Federation of Indian Chambers of Commerce and Industry (Ficci) said in a release.

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Consumer food price inflation however, eased to 1.93 per cent in March as compared to 2.01 per cent in February. The sector had recorded a meagre growth of 0.6% in February, 2016.

Also, the consumer price index-based inflation rose to a 5-month high of 3.81 per cent in March against 3.65 per cent in February. Consumer non-durables production contracted 8.6 per cent in February as against a contraction of 4.9 per cent a year ago, while consumer durables output fell to (-) 0.9 per cent from 10.4 per cent a year ago. For milk & products and eggs, prices were up by 4.69 per cent and 3.21 per cent respectively.

Prepared meals, snacks and candies prices were also high as prices grew by 5.65 per cent. For fuel and light category, inflation rose to 5.56 per cent for the month. However, vegetables inflation contracted by 7.24 per cent in March 2017. "If this is so, the RBI inflation forecast of 4-4.5% will be materially undershot", it added.

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