Croatia GDP


GDP shrinks at slower pace in Q1

In the first quarter, GDP dropped 1.5% over the same quarter last year, based on a preliminary flash estimate released by the Croatian Bureau of Statistics on 29 May. The print represents an improvement over the 2.3% contraction observed in the previous quarter but marks, nonetheless, a sixth consecutive drop in economic activity. The reading overshot market expectations of a 2.3% drop. Full details of the national accounts data will be published on 10 June.

The government expects GDP to expand 0.7% this year. FocusEconomics panellists have a more pessimistic assessment and expect GDP growth to be flat in 2013, which is down 0.2 percentage points from last month's estimate. In 2014, the panel expects economic growth to rebound to 1.4%.

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Croatia GDP Chart

Croatia GDP Q1 2013

Note: Year-on-year changes of GDP in %.
Source: Croatian Bureau of Statistics (CBS) and FocusEconomics Consensus Forecast.

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