Croatia: Decline in industrial output softens in June
Industrial output dropped 1.8% year-on-year in working-day adjusted terms in June, which was softer than May’s 12.4% plunge. June’s reading reflected an across-the-board improvement in the major sectors, with mining and quarrying, and manufacturing output declining at a softer rate than in May.
On a monthly basis, factory output grew 7.4% in seasonally-adjusted terms in June, rebounding from May’s 1.8% fall and marking the strongest increase since January 2019. Meanwhile, the trend improved modestly, with the annual average variation of industrial production coming in at minus 3.1% in June, up from May’s minus 3.4%.