Bulgaria: Industry improves further in May
July 9, 2014
In May, industrial output rose 4.9% over the same month last year in working-day adjusted terms according to the National Statistical Institute. The increase marked an improvement over the 3.7% increase recorded in April. May’s acceleration resulted from a rebound in electricity, gas, steam and air conditioning supply.
On a month-on-month basis, industrial production fell a seasonally-adjusted 0.7% in May, which contrasted the 0.2% increase recorded in the previous month. Annual average growth in industrial production rose from 0.9% in April to 2.0% in May—the fastest growth pace since March 2012.
Author: Dirina Mançellari, Senior Economist