In the first quarter, GDP contracted 1.3% over the same quarter the previous year, based on a preliminary flash estimate released by the Croatian Bureau of Statistics on 31 May. The print, which was the steepest contraction since the second quarter of 2010, followed the 0.4% drop observed in the previous quarter and put the Croatian economy back in recession. Full details of the national accounts data set will be published on 20 June. Other indicators show that economic activity deteriorated markedly, in particular industrial production which fell 6.1% in the first quarter (Q4 2011: +0.5% year-on-year). Moreover, retail sales decelerated sharply (Q4 2011: +4.0% yoy; Q1 2012: +1.5% yoy). However, merchandise exports rose 1.5% in the first quarter in EUR terms, contrasting the 2.7% drop seen in Q4 2011. Tourist arrivals increased 14.9% in the same period (Q4 2011: +7.7% yoy). The Central Banks expects GDP to contract about 1.0% this year.
Economy contracts at fastest pace in nearly two years
May 31, 2012
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Croatia Economic News
October 17, 2016
In September, consumer prices increased 1.0% from the previous month, which contrasted August’s 0.2% drop and marked the highest reading in four years.
September 29, 2016
After months of political conflict had led the government to collapse in June, snap elections were held in Croatia on 11 September.
September 29, 2016
In August, industrial output rose 2.5% over the same month of last year in seasonally and working-day adjusted terms, which represented an acceleration over July’s weaker 1.2% increase.
September 15, 2016
In August, consumer prices declined 0.2% over the previous month, which was a softer drop than July’s 0.7% decrease.
September 2, 2016
In July, industrial output rose 1.2% over the same month of last year in working-day adjusted terms, which represented a significant slowdown from June’s 4.1% increase and the lowest result in seven months.