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Croatia Industrial production March 2022

Croatia: Industrial production falls in March

Industrial production fell 1.9% year-on-year in working-day adjusted terms in March, swinging from Februarys 4.0% increase. Marchs decline was attributed to decreases in manufacturing output and mining and quarrying production, while electricity, gas, steam and air conditioning supply increased.

On a seasonally- and calendar-adjusted monthly basis, industrial production contracted 2.6% in March (February: +2.6% s.a. mom). Meanwhile, the trend weakened, with the annual average growth of industrial production coming in at 5.9%, down from Februarys 6.7% reading.

FocusEconomics panelists see industrial production expanding 2.9% in 2022, which is down 0.5 percentage points from last months forecast. In 2023, our panel sees industrial production growing 3.1%.

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