Bulgaria: Decline in industrial activity softens in December
Industrial output dropped 7.6% year on year in December, which was markedly softer than November’s 12.2% decrease. Looking at the details of the release, manufacturing production decreased at a faster pace in December, while mining output declined at a softer, albeit still pronounced, pace.
On a seasonally adjusted monthly basis, industrial production rebounded, rising 3.3% in December (November: -4.0% mom), the best result since March 2022. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.7% in December, down from November’s minus 8.0%.