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Croatia Industrial production March 2023

Croatia: Decline in industrial activity softens in March

Industrial output decreased 0.8% year-on-year in seasonally and calendar-adjusted terms in March, which was a smaller contraction than February’s 1.9% decrease. The improvement was mainly driven by a softer contraction in the manufacturing sector.

On a seasonally and calendar adjusted monthly basis, factory output rose at a faster rate of 1.3% in March (February: +0.7% mom), the best result since January 2022. Meanwhile, annual average growth of industrial production was steady at February’s 0.4% in March.

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