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%.