Bulgaria Industrial production May 2022

Bulgaria

Bulgaria: Industrial output grows at fastest pace in over one year in May

July 8, 2022

Industrial output rose 23.6% compared to the same month a year earlier in May, which was above April's 13.6% increase. The figure marked the strongest increase since April 2021. The rise was largely driven by an improvement in manufacturing production growth. In addition, mining output improved.

On a monthly basis, industrial output rose 1.4% in seasonally-adjusted terms in May, which was better than April’s flat reading. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 13.6%, up from April's 12.9%.

FocusEconomics Consensus Forecast panelists see industrial production growing 5.8% in 2022, which is up 1.7 percentage points from last month’s forecast, and 2.3% in 2023.


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Bulgaria Industrial production Chart


Bulgaria Industry May 2022 0

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: National Statistical Institute (NSI).


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