Bulgaria: Industrial production remains strong in March
May 9, 2011
In March, industrial production expanded 5.1% in working-day adjusted terms over the same month last year. The result was well below the 15.4% rise recorded in February, owing to slower manufacturing growth (February: +22.5% year-on-year; March: +6.8% yoy). A month-on-month comparison does not corroborate the slowdown, as industrial production expanded 0.1% over the previous month in seasonally adjusted terms, which contrasted a 1.6% contraction in February. That said, the trend continues to improve, with the annual average variation in industrial production rising from 4.8% in February to 5.1% in March. The government expects the economy to expand 3.6% this year and 4.1% in 2012.