Bulgaria Industry March 2020


Bulgaria: Covid-19 deals heavy blow to industrial output in March

May 11, 2020

Industrial output slumped 6.9% compared to the same month a year earlier in working-day adjusted terms in March, which followed a flat reading in February. March's reading marked the worst print since February 2010.

The figure was chiefly driven by tumbling manufacturing production more than offsetting a turnaround in mining and quarrying output as well as a softer contraction in the production of utilities.

On a seasonally-adjusted monthly basis, industrial production cratered 5.1% in March, contrasting February’s 0.8% expansion 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 0.8% in March, from February's 0.0%.

FocusEconomics panelists are still assessing the latest developments.

Author: Massimo Bassetti, Economist

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