Bulgaria Continues to Lead EU Industrial Output Decline
Bulgaria has recorded the largest drop in industrial production within the European Union for the fifth month in a row, according to preliminary data from Eurostat.
Bulgaria's Industrial Output Down in May, Eurostat Says
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Bulgaria's industrial production is down in May. Photo by money.bg
Bulgaria’s industrial production registered a decline of 1.7% in May 2010 year-on-year, according to Eurostat data released Wednesday.
Greece is the only other EU member state with a decline of the industrial output compared to May 2009 (-6.3%).
Bulgaria’s May industrial production also decreased compared with the output in April 2010 (-0.2%), as did the output of Romania, Malta, Portugal, Spain, and Luxembourg.
Bulgaria’s industrial output has been declining steadily on an annual basis (i.e. compared with the same month of the previous year): by 12.1% in December 2009, by 0.6% in January 2010, by 9.8% in February, by 0.6% in March, by 2.6% in April, and by 1.7% in May.
On a monthly basis, i.e. compared with the respective previous month, it has seen greater fluctuations: a 2.5 decline in December 2009, a 4.8% growth in January, a drop of 5.6% in February, an increase of 4.1% in March, a decline of 1.2% in Arpil, and a 0.2% drop in May.
The EU 27 as a whole saw its industrial production grow by 8.7% in May 2010 compared with May 2009; the increase in the 16-member euro zone was 9.4%.
Compared with April 2010, in May, the industrial output of the EU 27 is up by 1%, and in the euro zone – by 0.9%.
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