Bulgaria: Industrial output rebounds on low base effect in March
May 10, 2021
Industrial output grew 6.4% in year-on-year terms in March, rebounding from February's 3.4% decrease. The figure marked the best result in nearly four years; however, it was flattered by a low base effect. Looking at the details of the release, the reading reflected a broad-based upturn across all sub-sectors. Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at minus 5.4%, up from February's minus 6.5% reading.
On a seasonally-adjusted monthly basis, factory output expanded 3.8% in March (February: +0.9% mom).
Author: Hanna Andersson, Economist