Croatia Industry


Industrial output reverts back to negative territory

In February, industrial output fell 4.1% over the same month last year in working-day adjusted terms, which contrasts the 3.4% rise tallied in January. The contraction was mainly driven by a deterioration in mining and quarrying as well as in manufacturing production.

On a monthly basis, industrial production fell 3.0% in seasonally adjusted terms, which contrasts the 2.2% rise observed in January. As a result of the annual drop, the trend is now pointing downwards, with annual average growth in industrial production falling from minus 4.4% in January to minus 4.6% in February.

FocusEconomics Consensus Forecast panellists expect industrial production to fall 0.2% in 2013, which is down 0.4 percentage points from last month's estimate. In 2014, the panel sees industrial production growth at 2.5%.

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Croatia Industry Chart

Croatia Industry February 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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