Croatia: Industrial activity falls at softest pace in 11 months in September
October 29, 2020
Industrial output fell at a marginally softer pace of 1.1% year-on-year in working-day adjusted terms in September, following August’s 1.2% drop and marking the best reading in almost a year. Looking at the details of the release, September’s weaker drop was chiefly driven by a softer contraction in manufacturing output. In contrast, mining and quarrying output dropped at a significantly sharper pace than in August.
On a monthly basis, factory output expanded 1.7% in seasonally and working-day adjusted terms in September, contrasting August’s 1.1% decline. Meanwhile, the trend deteriorated further, with the annual average variation of industrial production coming in at minus 3.7% in September, down from August’s minus 3.5%.