Bulgaria Industrial production April 2020

Bulgaria

Bulgaria: Severe blow to industrial production amid lockdown in April

June 9, 2020

Industrial output tumbled 15.7% compared to the same month a year earlier in working-day adjusted terms in April, which followed a 6.8% contraction in March. April's reading marked the worst print since September 2009.

The figure was chiefly driven by collapsing manufacturing production and slumping production of utilities, more than offsetting increasing output in the in mining and quarrying sector.

On a seasonally-adjusted monthly basis, industrial production cratered 11.4% in April, following March’s softer 5.0% fall and logging the worst reading in over ten years. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.3% in April, from March's minus 0.8%.

FocusEconomics Consensus Forecast panelists see industrial production contracting 6.1% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, panelists see industrial production growing 4.1%.


Author: Massimo Bassetti, Senior Economist

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Bulgaria Industrial production Chart


Bulgaria Industry April 20 20

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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