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Bulgaria Industrial production May 2023

Bulgaria: Decline in industrial activity softens in May

Industrial output slid 8.2% compared to the same month of the previous year in May, which was above April’s 14.1% decrease. Looking at the details of the release, manufacturing production decreased at a more moderate pace in May, while the decrease in mining output worsened.

On a seasonally adjusted monthly basis, factory output rose 1.6% in May (April: -2.9% mom), the best result since March 2022. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 2.4% in May, down from April’s 4.8% reading.

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