Bulgaria: Industrial output expands at fastest pace on record in April, driven by a low base effect
June 10, 2021
Industrial output rose 22.8% in year-on-year terms in April, which followed March's 7.2% increase. April's print marked the strongest expansion on record; however, it was flattered by a low base effect. The improvement was partly driven by faster growth in manufacturing output. In addition, mining output picked up pace. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at an over one-year high of minus 2.1%, up from March's minus 5.3% reading.
On a monthly basis, factory output increased 0.2% in seasonally-adjusted terms in April, which was well below March’s 4.8% expansion.
Author: Hanna Andersson, Economist