Croatia: Economy contracts at fastest pace in two years
August 31, 2012
In the second quarter, GDP contracted 2.1% over the same quarter last year, based on a preliminary flash estimate released by the Croatian Bureau of Statistics on 31 August. The print, which represented the steepest contraction recorded since the second quarter of 2010, followed the 1.3% drop observed in the previous quarter and marked the third consecutive quarterly decline. That said, the Q2 fall came in line with last month's Consensus Forecast. Full details of the national accounts data set will be published on 20 September.