Croatia Industry


Industrial output pace of decline quickens in July

In July, industrial output contracted 4.1% over the same month last year in working-day adjusted terms, marking a deterioration over the 1.6% drop tallied in June. The deterioration reflected contractions in all the main sectors of economic activity.

A month-on-month comparison corroborates the deterioration seen in the annual figures; industrial production fell 0.9% in seasonally adjusted terms, which contrasted the 1.7% rise observed in June. Finally, annual average growth in industrial production inched up from minus 2.7% in June to minus 2.6% in July.

FocusEconomics Consensus Forecast panelists 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 July 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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