Croatia Industrial production November 2021

Croatia

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%.


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Croatia Industry November 2021 0

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: Croatian Bureau of Statistics (CBS) and FocusEconomics calculations


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