Croatia: Industrial production growth picks up pace in August
Industrial production expanded at a sharper rate of 5.2% in annual terms in August, from 3.9% in July. August’s upturn came largely on the back of a quicker growth in manufacturing output. Meanwhile, mining and quarrying output fell at a softer pace over the prior month.
On a seasonally- and calendar-adjusted monthly basis, industrial production bounced back, expanding 0.7% in August (July: -1.1% s.a. mom). Moreover, the trend improved, with the annual average variation of industrial production coming in at plus 5.4 in August (July: 4.9%).
FocusEconomics’ panelists see industrial production expanding 7.0% in 2021, which is up 0.6 percentage points from last month’s forecast. In 2022, our panel sees industrial production growing 3.6%, which is unchanged from last month’s estimate.