Croatia Industrial production April 2020

Croatia

Croatia: Industrial output falls at steepest rate in nearly eleven years in April

May 29, 2020

Industrial output collapsed 11.0% year-on-year in working-day adjusted terms in April (March: -4.9% year-on-year), marking the worst downturn since June 2009. April’s plunge reflected a broad-based contraction across all sub-sectors, with output in the mining and quarrying sector falling the most.

On a seasonally-adjusted monthly basis, factory output plummeted 5.6% in April, notably below March’s 1.4% fall and the worst result since September 2013. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.4%, down from March's minus 1.2% reading.

FocusEconomics’ panelists see industrial production contracting 8.6% this year, which is down 2.2 percentage points from last month’s forecast. Next year, our panel sees industrial production growing 4.7%.


Author:, Economist

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Croatia Industry April 20 20

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: Croatian Bureau of Statistics (CBS).


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