Croatia Industrial production June 2020

Croatia

Croatia: Decline in industrial output softens in June

July 30, 2020

Industrial output dropped 1.8% year-on-year in working-day adjusted terms in June, which was softer than May’s 12.4% plunge. June’s reading reflected an across-the-board improvement in the major sectors, with mining and quarrying, and manufacturing output declining at a softer rate than in May.

On a monthly basis, factory output grew 7.4% in seasonally-adjusted terms in June, rebounding from May’s 1.8% fall and marking the strongest increase since January 2019. Meanwhile, the trend improved modestly, with the annual average variation of industrial production coming in at minus 3.1% in June, up from May's minus 3.4%.

FocusEconomics’ panelists see industrial production contracting 8.0% this year, which is up 0.1 percentage points from last month’s forecast. Next year, our panel sees industrial production growing 4.1%.


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Croatia Industry June 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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