site.btaEU Services Production Up in May, M-M, Slows Down in Bulgaria, Euro Area

In May, output in the services sector increased by 0.1% in the European Union compared with April 2024. However, it fell by 0.4% in Bulgaria and by 0.1% in eurozone countries, according to seasonally adjusted preliminary data of Eurostat, published on Wednesday.

In April, output in the services sector increased by 1% in both the EU and the euro area in particular, Eurostat said. 

The European statistics agency reported in May an annual increase (compared to the same month in 2023) of 2.6% in the EU and 2.5% in the euro area. 

In Bulgaria, output in the services sector fell by 0.4% in May compared with April, when it increased by 1.5 % compared with March, according to Eurostat data, seasonally and calendar adjusted.

On a year-on-year basis (compared to May 2023), the services sector in Bulgaria grew by 3.4% and by 6.1% in April compared with the same month of the previous year.