Croatia: Economy contracts for fourth consecutive quarter
November 30, 2012
In the third quarter, GDP contracted 1.9% over the same quarter last year, based on a preliminary flash estimate released by the Croatian Bureau of Statistics on 30 November. The print followed the 2.2% contraction observed in the previous quarter (previously reported: -2.1% year-on-year) and marked the fourth consecutive quarterly decline. That said, the Q3 fall came in below market expectations of a 1.5% drop. Full details of the national accounts data set will be published on 20 December. The Central Bank expects GDP to contract about 1.6% this year.