Industrial production growth slows down significantly in May

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Data source: NSI

Comment

The latest NSI data show a significant slowdown in industrial sector growth in May, driven mainly by weakness in manufacturing and domestic sales. The decline in energy production may be due to more favorable weather conditions in the first months of this year compared to the previous one, so it is not necessarily a bad thing. Interestingly, in the last few months, industrial sales growth in the foreign market has been more stable than in the domestic market. This is unlikely to be a long-term trend, given the very weak growth or decline in production reported in the industrial sectors of Bulgaria’s key trading partners such as Germany and Italy.

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