Croatia: Industrial production growth increases in November
December 30, 2021
Industrial production rose 3.7% year-on-year in working-day adjusted terms in November, up from October’s 2.7% increase. November’s upturn was largely attributed to stronger manufacturing output. That said, electricity, gas, steam and air conditioning supply increased at a softer rate, while mining and quarrying production contracted more sharply than in October.
On a seasonally- and calendar-adjusted monthly basis, industrial production fell 1.4% in November (October: +1.8% mom), the worst result since April. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 6.2%, up from October's 5.7% reading.
FocusEconomics’ panelists see industrial production expanding 3.4% in 2022, which is down 0.1 percentage points from last month’s forecast. In 2023, our panel sees industrial production growing 3.1%.