Bulgaria: Industrial output returns to growth
June 7, 2012
In April, industrial production added 0.3% over the same month last year in working-day adjusted terms. The result contrasted the revised 3.1% contraction recorded in March (previously reported: -3.2% year-on-year), and thus marked a return to positive growth in industrial output for the first time this year. The result came on the back of stronger manufacturing growth, which more than offset contractions in the mining and quarrying as well as energy production sectors. A month-on-month comparison corroborates the positive reading shown by the annual figures, as industrial production rose 1.5% over the previous month in seasonally adjusted terms, which was virtually unchanged from the 1.6% increase observed in March. The trend, however, continues to point downwards, with annual average growth in industrial production decelerating from a 2.3% increase in March to a 1.6% expansion.