Bulgaria: Industry loses momentum in March
May 9, 2014
In March, industrial output rose 4.2% over the same month last year in working-day adjusted terms according to the National Statistical Institute. The figure marked a deterioration over the revised 5.9% increase recorded in February (previously reported: +6.5% year-on-year). March’s expansion resulted from an increase in manufacturing and in mining and quarrying.
On a month-on-month basis, industrial production fell a seasonally-adjusted 1.3% in March, which followed the 0.1% decrease recorded in the previous month. The figure marked the fastest contraction since May 2013. Annual average growth in industrial production rose from a flat reading in February to 0.6% in March.
Author: Dirina Mançellari, Senior Economist