Bulgaria: Industrial output contracts on manufacturing losses in April
June 8, 2018
Industrial output contracted on a monthly basis in April, falling 2.0% in seasonally-adjusted terms (March: +1.7% month-on-month s.a.).
On an annual basis, industrial output declined 0.8% in working day-adjusted terms in April, contrasting March’s 1.6% expansion. April’s reading reflected across-the-board losses; manufacturing output posted a rare contraction in annual terms, while year-on-year losses in mining output moderated from a month earlier. Moreover, the utilities supply also declined from the same month a year earlier.
Meanwhile, annual average growth in industrial output was stable from March at 3.0%.
Author: Christopher Thomas, Economist