Croatia Industry


Industrial output declines less in June

In June, industrial output contracted 1.5% over the same month last year in working-day adjusted terms, marking an improvement over the 5.3% drop tallied in May. The improvement was mainly driven by a weaker contraction in manufacturing output and in mining and quarrying. On the other hand, electricity, gas, steam and air conditioning supply expanded in June, albeit at a slower pace.

A month-on-month comparison corroborates the improvement seen in the annual figures; industrial production expanded 1.7% in seasonally adjusted terms, which contrasted the 2.2% drop observed in May. The trend for industrial production improved in June as a result of the softer annual contraction; annual average growth stepped up from minus 3.0% in May to minus 2.7% in June.

FocusEconomics Consensus Forecast panellists expect industrial production to fall 0.5% in 2013, which is unchanged from last month's estimate. In 2014, the panel sees industrial production growth at 2.1%.

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Croatia Industry Chart

Croatia Industry June 2013

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

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