Croatia Industry April 2016


Croatia: Growth in industrial production softens in April, but remains strong

May 30, 2016

In April, industrial output rose 4.9% over the same month of last year in working-day adjusted terms, which was below March’s strong 6.9% increase. The deceleration was mainly due to a contraction in production in the electricity, gas, steam and air conditioning sector, which tallied its worst reading in four months. On the other hand, activity in the manufacturing sector speeded up and the mining and quarrying sector returned to growth after March’s fall.

On a monthly basis, industrial production in April fell 2.9% in seasonally-adjusted terms, which contrasted March’s 3.9% increase and marked the lowest reading in eight months. Annual average growth in industrial production advanced from March’s 4.2% to 4.5% in April, marking the highest reading since February 2008.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.8% in 2016, which is up 0.1 percentage points from last month’s estimate. In 2017, the panel sees industrial production growth stable at 2.8%.

Author: Massimo Bassetti, Senior Economist

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