Bulgaria: Industrial output declines in May
Industrial output nosedived 7.8% compared to the same month of the previous year in May, which contrasted April’s 6.5% increase. The reading was partly due to a deterioration in manufacturing production. In addition, mining output fell notably.
On a seasonally adjusted monthly basis, factory output fell 3.3% in May (April: +2.8% mom). Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 7.8% in May, up from April’s minus 7.9%.