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%.