Croatia Industrial production September 2020

Croatia

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%.

FocusEconomics’ panelists see industrial production expanding 4.5% in 2021, which is down 0.2 percentage points from last month’s forecast. In 2022, our panel sees industrial production growing 3.4%.


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Croatia Industry September 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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