In November 2020, industrial production and construction have declined while retail trade has increased, and the three important economic sectors continued to decline on an annual basis, according to the data from the National Statistical Institute (NSI).
The index of industrial production in Bulgaria, calculated from seasonally adjusted data, decreased in November by 1.5% compared to October, when it increased slightly by 0.4 percent. This is the first contraction in production after six consecutive months of gradual recovery from the dramatic downturn recorded in March and April, when the economy was shocked by the first wave of the coronavirus pandemic and the then severe restrictive measures.
On an annual basis, the calendar adjusted index of industrial production decreased in November by 5.0% after a decline of 3.1% in October and after double-digit declines in the Spring.
There has beein a decrease on a monthly basis by 9.2% in November in the mining and quarrying industry, one by 1.1% in the manufacturing industry and a decrease by 0.8% in the production and distribution of electricity, heat and gas.
Compared to November 2019, the mining industry contracted by as much as 18.1%, the manufacturing industry decreased by 3.7%, and the production and distribution of electricity and heat and gas decreased by 6.6 percent.
At the same time, the NSI index for the output in the Construction sector decreased in November 2020 by 0.4% compared to October, when it decreased by 1.6%, as the output from private and civil engineering decreased by 0.4%. , while the building construction - dropped by 0.5 percent.
On an annual basis, construction output in November shrank by 4.1% after declining by 4.6% in October, marking a decline for a tenth consecutive month, with building construction declining in November by 7.9%, and with an increase in private and civil engineering by 1.2 percent.
In November the NSI reported an improvement only in the retail trade, as the turnover in retail trade increased by 1.2% compared to October, when it increased by 1.3%. This is the weakest increase in retail sales since June, but still represents growth for the seventh consecutive month.
On an annual basis, retail trade fell by 6.4% in November after declining by 5.3% in October, declining for another month in 2020.
NSI data show that business activity in the country began to deteriorate in the last quarter of the year, as the second wave of coronavirus pandemic and related new restrictive measures in both Bulgaria and Europe began to have a negative impact and lead to a slowdown in the economic recovery, which was in force in the third quarter after the dramatic decline during the Spring.
