Industrial Output Grows by 1,5% in Bulgaria Y/Y
In May 2021, industrial production in Bulgaria grew by 15.1 per cent compared to May 2020, reads the latest Monthly Report on Bulgarian Economy released by the Economy Ministry on Thursday. Growth continued to be driven by the manufacture of motor vehicles, trailers and semi-trailers, of machinery and equipment, and of metal products.
The report, elaborated by the Economic and Financial Policy Department, presents the latest developments of main macroeconomic indicators based on statistical data as at July 16.
In May 2021 year-on-year, the industrial turnover from the export of basic metals and energy goods increased, while
electricity, gas, steam and air conditioning supply contributed the most to domestic turnover growth. The growth in construction
production slowed down significantly and a decline was registered in building construction. At the same time, the growth of retail trade turnover was 24 per cent, with an increasing contribution of retail sale of food, beverages and tobacco.
According to the National Employment Agency's data, the registered unemployed numbered 170,716 at the end of June,
similarly to the same month of 2018 and 2019, which is a historic low for this parameter so far. The Finance Ministry's
analysts expect the downward trend in the dynamics of the registered unemployed to continue in July, followed by a
reversal of the trend in the fall months, mostly due to seasonal factors.
In June, the monthly Harmonised Indices of Consumer Prices (HICP) inflation rate was 0 per cent, while the annual HICP
inflation rate accelerated marginally to 2.4 per cent largely yjnks to the increase in prices of energy and transport
fuels in particular, as the latter reached...