site.btaMarch 2022 Industrial Production Index up 5% M/M - Statistics

According to seasonally adjusted preliminary data, the industrial production index in March 2022 increased by 5% compared to February, the National Statistical Institute said on Tuesday. 

In March 2022, the calendar adjusted industrial production index rose by 19.0% in comparison with the same month a year earlier.

Compared to February 2022, the seasonally adjusted industrial production index increased by 18.2% in electricity, gas, steam and air conditioning supply, by 6.5% in the mining and quarrying industry and by 1.6% in manufacturing. 

On an annual basis in March 2022, the industrial production index calculated from calendar adjusted data rose by 51.1% in electricity, gas, steam and air conditioning supply, by 19.4% in the mining and quarrying industry and by 13.3% in manufacturing. 

Economic analyst Georgi Angelov wrote in his Economic Blog that the industrial production index in March was an all-time high. "We are not talking of recovery to the pre-crisis levels now: we are sustainably above them." 

Angelov also wrote: "The processing industry is the front-runner and has reached record-setting levels of production. The energy sector is also doing very well and is close to an all-time production high. So is the extracting industry. Mind you, March was a month of shock: the price of electricity and other resources was the highest ever, and the effects from the war were acutely felt. On this backdrop, the industrial sector is doing better than well. Let's see how they manage from now on."