Croatia: Industrial activity dips in July
Industrial output declined 0.7% year-on-year in calendar-adjusted terms in July, which contrasted June’s 2.4% increase. The notable downturn came on the back of a deterioration in electricity, gas, steam and air conditioning supply and manufacturing production. However, mining and quarrying production declined at a softer pace.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.5%, down from June’s minus 0.2% reading. On a seasonally and calendar adjusted monthly basis, industrial output fell 3.9% in July (June: +2.0% mom), marking the worst result since April 2020.