Bulgaria: Industrial output contracts at sharper pace in November
January 8, 2021
Industrial output dropped 5.0% in year-on-year terms in November, which was a sharper decline than October's 3.1% decrease. Looking at the details of the release, both manufacturing production and mining output contracted at a quicker pace in November.
On a seasonally-adjusted monthly basis, industrial output fell 1.5% in November (October: +0.4% mom), the worst result since April. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.9%, down from October's minus 5.5%.
Author: Hanna Andersson, Economist