Bulgaria Industrial production March 2022

Bulgaria

Bulgaria: Industrial output grows at fastest pace since April 2021 in March

May 11, 2022

Industrial production expanded 19.5% year-on-year in March (February: +14.8% yoy). March's figure marked the strongest increase since April 2021. March's upturn was largely driven by a broad-based pickup in manufacturing, mining, and electricity, gas, steam, and air conditioning supply production.

On a seasonally-adjusted monthly basis, factory output rose at a quicker rate of 5.0% in March (February: +0.3% mom), the best result since June 2020. Meanwhile, the trend improved notably, with the annual average growth of industrial production coming in at 13.6% in March, up from February's 12.6% reading.

Our panelists see industrial production growing 4.1% in 2022, which is down 0.1 percentage points from last month’s forecast, and 2.8% in 2023.


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Bulgaria Industrial production Chart


Bulgaria Industry March 2022

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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