Croatia: Industrial production grows at slower pace in July
September 1, 2021
Industrial production growth cooled to 3.9% in annual terms in July, following June’s 8.2% expansion. July’s softer growth was chiefly driven by a weaker increase in manufacturing output. Meanwhile, mining and quarrying production contracted at a sharper rate over the prior month.
On a seasonally- and calendar-adjusted monthly basis, industrial production slid 1.6% in July, contrasting June’s 1.5% increase. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at plus 4.9% in July (June: 4.4%).
FocusEconomics’ panelists see industrial production expanding 6.4% in 2021, which is up 0.1 percentage points from last month’s forecast. In 2022, our panel sees industrial production growing 3.6%.