Croatia Industrial production August 2020

Croatia

Croatia: Decline in industrial activity softens in August

September 30, 2020

Industrial output fell at a softer pace of 1.2% year-on-year in working-day adjusted terms in August (July: -1.6% yoy). Looking at the details of the release, August’s weaker drop was largely driven by a softer contraction in manufacturing output. That said, growth of the electricity, gas, steam and air conditioning supply sector moderated, while mining and quarrying output fell at a faster pace than in July.

On a monthly basis, factory output dropped 1.1% in seasonally and working-day adjusted terms in August, contrasting July’s 2.9% rise. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at 3.4% in August following July’s minus 3.5%.

FocusEconomics’ panelists see industrial production contracting 7.6% this year, which is up 0.4 percentage points from last month’s forecast. Next year, our panel sees industrial production growing 4.1%.


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Croatia Industry August 20 20 0

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: Croatian Bureau of Statistics (CBS) and FocusEconomics calculations.


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