Bulgaria Economic Growth Improves In Q2

(RTTNews) - Bulgaria's economy grew at a faster rate in the three months ended June, figures from the National Statistical Institute showed Thursday.

Gross domestic product rose 0.5 percent from the first quarter, when the economy grew 0.3 percent. In the final quarter of 2013, the economy expanded 0.3 percent.

Among the major contributors to growth were exports, up 1 percent and gross fixed capital formation, rising 0.8 percent. Private consumption grew just 0.1 percent.

Year-on-year, GDP rose 1.6 percent in the second quarter, which was faster than the 1.2 percent growth logged in the first three months of the year as well as in the final quarter of 2013.

Separately, the statistical office announced that the unemployment rate was 11.4 percent in the second quarter, down 1.5 percentage points from a year ago. Employment rose by 0.9 percentage points during the same period to 2.98 million.