Bulgarian industrial production growth picks up in March

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Bulgarian industrial production growth accelerated in March, largely driven by strong output in the utilities sector, provisional figures from the National Institute of Statistics (INS) showed on Tuesday.

Industrial production jumped 19% year-on-year in March, after rising 14.8% in February. The production of electricity supply, gas, steam and air conditioning rose sharply by 51.1% and the production of manufacturing industry increased by 13.3%.

The mining and quarrying sector recorded a 19.4% growth in production. On a month-to-month basis, industrial production rose 5.0% in March, well above the 0.3% gain the previous month.

A separate report from the Sofia-based statistics institute showed construction output in Bulgaria rose 1.6% a year in March, following a 3.7% increase in February.

On a seasonally adjusted monthly comparison basis, production in the construction sector continued to decline, falling slightly by 0.4%, after falling 0.7% in February.

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