Bulgaria Industrial production March 2021


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).

FocusEconomics Consensus Forecast panelists see industrial production growing 4.0% in 2021, which is unchanged from last month’s forecast. In 2022, panelists see industrial production growing 3.3%.

Author:, Economist

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Bulgaria Industrial production Chart

Bulgaria Industry March 2021

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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