Croatia: Industrial output growth gains steam in April
Latest reading: Industrial production grew 6.5% year on year in working-day adjusted terms in April (March: +3.2% yoy). April’s notable pickup was largely driven by an acceleration in manufacturing output growth. Moroever, electricity, gas, steam and air conditioning supply output gained steam, and mining and quarrying output fell at a softer rate.
Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at an over two-year high of 0.6% in April, contrasting March’s minus 0.1%. On a seasonally and calendar adjusted monthly basis, industrial production rebounded notably, rising 2.5% in April (March: -1.5% s.a. mom).