Croatia GDP


Pace of contraction continues to soften in Q3

GDP dropped 0.6% over the same quarter last year in Q3, according to the Croatian Bureau of Statistics' preliminary flash estimate released on 29 November. The decline matched the result that FocusEconomics Consensus Forecast panelists had expected. While the decrease represents a slight improvement over the 0.7% contraction observed in the previous quarter, it marks the eighth consecutive drop in economic activity. Full details of the national accounts data will be published on 10 December.

The government expects the economy to expand 0.2% this year and 1.3% in 2014. FocusEconomics panelists' assessment is more pessimistic; they expect GDP to contract 0.8% in 2013, which is unchanged from last month's estimate. In 2014, the panel expects economic growth to rebound to 0.7%, which is also unchanged over the previous month's estimate.

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Croatia GDP Chart

Croatia GDP Q3 2013

Note: Year-on-year changes of GDP in %.
Source: Croatian Bureau of Statistics (CBS) and FocusEconomics Consensus Forecast.

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