01.07.2019

According to preliminary data, Bulgaria’s Gross Domestic Product growth accelerated to 4,8 % yoy (not s.a.) in Q1 2019, supported by robust export and public consumption. Real productivity growth reached 2.8 % yoy following a strong acceleration in manufacturing productivity. The country’s average wage totalled BGN 1 208 in Q1 and speeded up a real 9,4 % yoy. Current account surplus stood at 1,1 % of projected GDP in Q1. The growth in industrial production and sales and construction output speeded up in April. In May, the business climate indicator increased again, backed by better assessment in construction and retail; the consumer confidence indicator also performed better than a month ago, due to favourable households’ expectations for their financial situation and the general economic situation in the country. Annual inflation decelerated to 2,9 % yoy in May, due to slower increase in energy and services prices. Registered unemployment continued to decrease and reached a current historical low of 5.3% in May. The budget surplus stood at 2,3 % of projected GDP as at end-April.

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