Croatia Economic Outlook
November 28, 2017The expansion of both industrial production and retail sales throughout Q3 suggests growth remained robust in the quarter. A record-breaking tourist season also made a decisive contribution to the economy in the quarter, and helped keep the unemployment rate at multi-year lows throughout Q3. The strong economic situation was reflected in the government’s fiscal data: In mid-November the Croatian parliament narrowed the expected government budget deficit for 2017 from 1.3% to 0.6% of GDP. This was due to slower-than-budgeted spending and revenues that outperformed plans on account of successfully implemented tax reforms. Early data for Q4 points to an extension of economic momentum into the last quarter of the year: Consumer and business confidence improved in October despite unemployment rising in the same month because of the end of the summer season.
Croatia Economic GrowthIn 2018, the economy is expected to post another year of healthy growth. Household spending will likely benefit from rising wages, employment growth and favorable financing conditions, while stronger EU funds inflows and upbeat business sentiment should lift fixed investment growth. Moreover, a strong tourism sector is expected to remain a key driver of growth, and the fiscal deficit should stay under control. On the downside, the main risks stem from the uncertainty surrounding the restructuring of food giant Agrokor. FocusEconomics panelists project GDP growth of 2.7% in 2018, down 0.1 percentage points from last month’s forecast, and 2.6% in 2019.
Croatia Economy Data
5 years of Croatia economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.39||0.0 %||Dec 06|
|Exchange Rate||6.40||-0.54 %||Dec 06|
|Stock Market||1,853||-0.48 %||Dec 06|
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Croatia Economic News
December 1, 2017
The economy gained traction in the third quarter of 2017, supported by a surge in fixed investment and solid household spending, despite the uncertainty still surrounding the restructuring of Croatia’s largest private company, food giant Agrokor.
November 29, 2017
Industrial output in October increased 4.3% in working-day adjusted terms from the same month last year, following September’s softer 3.0% expansion. October’s result was pushed-up by a remarkable expansion in manufacturing sector: Manufacture of wood and wood products, as well as of refined petroleum products and of food products recorded particularly high growth rates.
November 16, 2017
In October, consumer prices increased 0.4% from the previous month, following September’s over five-year high of 1.5% increase.
October 30, 2017
Industrial output in September increased 3.0% in working-day adjusted terms from the same month last year, following August’s slightly stronger 3.2% expansion. September’s result was pushed-up by a faster expansion in the electricity, gas, steam, and air conditioning supply sub-sector, and by a turnaround in the mining and quarrying sub-sector, while growth in the manufacturing sector slowed considerably from August, weighing on the final result. On a month-on-month basis, industrial production in September expanded 1.4% in seasonally- and working-day adjusted terms, following August’s much softer 0.3% uptick.
October 23, 2017
In September, consumer prices increased 1.5% from the previous month, following August’s flat result and marking the highest reading since May 2012.