Croatia Industrial production December 2020


Croatia: Industrial output bounces back in December

January 29, 2021

Industrial output grew 0.3% year-on-year in working-day adjusted terms in December 2020, rebounding from November’s 1.7% contraction. December’s upturn came largely on the back of notably faster electricity, gas, steam and air conditioning supply output. Accordingly, the trend improved, albeit only modestly, with the annual average variation of industrial production coming in at minus 3.4% in December, up from November's minus 3.6%.

Lastly, on a seasonally- and working-day adjusted monthly basis, industrial output also rebounded, rising 0.6% in December (November: -2.6% s.a. mom).

FocusEconomics’ panelists see industrial production expanding 4.6% in 2021, which is unchanged from last month’s forecast. In 2022, our panel sees industrial production growing 3.9%.


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Croatia Industrial production Chart

Croatia Industry December 20 20

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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