Bulgaria: Industrial output records slowest growth since February 2021 in December
Industrial production expanded 1.0% year on year in December (November: +5.0% yoy). December’s figure marked the softest reading since February 2021. Looking at the details of the release, a sharp deterioration in the electricity, gas, steam and air conditioning supply sector outweighed quicker growth in manufacturing production and mining output.
Additionally, on a seasonally adjusted monthly basis, industrial production fell 0.8% in December (November: +0.7% mom). Meanwhile, annual average industrial production growth fell to 13.3% in December (November: +14.4%), signaling a worsening trend in the industrial sector.