Bulgaria: Industrial activity contracts at sharper pace in March
Latest reading: Industrial output dropped 8.3% compared to the same month a year earlier in March on a calendar-adjusted basis, which was a deterioration from February’s 6.3% decrease. The figure marked the worst reading since March 2024. Looking at the details of the release, the electricity, gas, steam and air conditioning supply sector contracted by almost 30%, having expanded 11.2% in the prior month. On the flipside, manufacturing output declined at a softer rate in March, and mining output rebounded.
On a monthly basis, industrial production dropped 3.6% in seasonally adjusted terms in March, which was well below February’s 0.5% fall and marking the worst result since January 2024. Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 2.5%, up from February’s minus 2.8% reading.