The sold production of industrial enterprises increased by 1.5 percent on annual basis in August 2020, the Central Statistical Office (GUS) reported. In monthly terms though, it decreased by 5.8 percent. This is the effect of seasonality.
“After eliminating the influence of seasonal factors, in August this year sold industrial production was 1.8 percent higher than in the corresponding month of the previous year and 0.6 percent higher than in July this year," the report reads.
The market consensus is an increase in industrial production by 2.8 percent y/ y.
In the period of January-August this year the sold production of industry was 4.5 percent lower compared to the corresponding period of the previous year, when an increase of 4.3 percent was recorded, the GUS also reported.