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%.