Croatia Industrial production November 2020


Croatia: Industrial output drops at sharpest pace since June in November

December 31, 2020

Industrial output declined 1.7% year-on-year in working-day adjusted terms in November, contrasting October’s 2.2% expansion and marking the lowest reading in five months. November’s downturn was chiefly driven by a swing into contraction of manufacturing output. Moreover, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.6% in November, down from October's minus 3.5%.

Lastly, on a monthly basis, factory output fell 2.6% in seasonally and working-day adjusted terms in November, contrasting October’s 1.7% increase and dropping at the sharpest rate since April.

FocusEconomics’ panelists see industrial production expanding 4.6% in 2021, which is up 0.2 percentage points 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 November 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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