site.btaBusiness Services in Bulgaria Register Annual Output Growth in May

Business services in Bulgaria recorded an annual growth in production in May, with the sectors "Creation and dissemination of information and creative products; telecommunications" and "Hotels and restaurants" making a significant contribution, according to the National Statistical Institute.

In May 2024, the overall index of output in business services declined by 0.4% from the previous month. Compared to May 2023, a 3.5% increase in the calendar-adjusted index of output in business services was recorded.

Monthly changes

In May 2024, an increase of 1.9% was recorded over the previous month in the sectors of "Creation and distribution of information and creative products; telecommunications" and 0.2% in "Professional activities and scientific research". Decreases were observed in the sectors "Real estate activities" by 3.2%, "Transport, storage and post" by 2.9%, "Administrative and support service activities" by 1.4%, and "Hotels and restaurants" by 0.6%. 

Annual changes

On an annual basis in May 2024, increases are recorded in the following sectors: "Information and creative product creation and distribution; telecommunications" by 14.1%, "Hotels and restaurants" by 11.4%, and "Transport, storage and distribution" by 2.3%. Decreases were observed in "Professional activities and scientific research" by 10.9%, "Administrative and support activities", and "Real estate activities" by 5.6% each.