Bulgaria: Industrial output contracts at sharpest rate since May 2020 in March
Industrial output nosedived 9.0% in year-on-year terms in March, which was a deterioration from February’s 2.7% decrease. The figure marked the worst reading since May 2020. The notable drop was largely due to a deterioration in manufacturing and mining production.
On a monthly basis, factory output fell 1.2% in seasonally adjusted terms in March, which was below February’s 0.2% fall. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 7.1%, down from February’s 9.7%.