Financial News: Bulgaria's Economic Growth Steady At 0.5%

Bulgaria's Economic Growth Steady At 0.5%

09/05/2024 - 08:08:00 (RTTNews)

(RTTNews) - Bulgaria's economy expanded at a stable pace in the second quarter, preliminary data from the latest figures from the statistical office showed on Thursday.

Gross domestic product advanced 0.5 percent sequentially in the second quarter, the same expansion as in the first quarter.

The expenditure breakdown showed that final consumption grew 0.9 percent over the year, while gross fixed capital formation dropped by 1.3 percent. Both exports and imports grew by 1.4 percent and 2.0 percent, respectively.

On a yearly basis, GDP growth improved to 2.1 percent in the second quarter from 1.9 percent in the preceding three-month period.

Separate official data retail sales growth accelerated to a 3-month high of 6.8 percent in July from 4.4 percent in June. Sales of food products grew 12.6 percent, and those of non-food products rose 7.3 percent.

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