Croatia Industry


Industrial production accelerates in April on the back of manufacturing

In April, industrial output increased 1.3% over the same month last year in working-day adjusted terms, which almost doubled the 0.7% expansion tallied in March. The figure mainly reflected that an expansion in manufacturing more than compensated for a drop in production in the electricity, gas, steam and air conditioning sector, as well as in mining and quarrying output.

A month-on-month comparison does not corroborate the acceleration recorded in the annual figures; industrial production fell 2.9% in seasonally-adjusted terms in April (March: +1.3% month-on-month). Annual average growth in industrial production increased slightly from the previous month’s minus 1.8% to minus 1.6% in March and thus is now starting out on an upward trend.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 0.3% in 2014, which is unchanged from last month’s estimate. In 2015, the panel sees industrial production growth at 2.2%.

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Croatia Industry Chart

Croatia Industry March 2014 0

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

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