Croatia: Industrial output grows at fastest pace since December 2016 in February
Industrial production rose 5.0% in annual terms in February (January: +1.8% yoy). The reading marked the best result since December 2016. February’s upturn largely reflected a stronger growth in manufacturing production. Moreover, electricity, gas, steam and air conditioning supply output increased again, albeit at a softer pace than in January. Accordingly, the trend improved, with the annual average variation of industrial production coming in at minus 2.3%, up from January’s minus 2.9% reading.
Lastly, on a monthly basis, industrial output grew 3.4% in seasonally- and working-day adjusted terms in February, notably above January’s 1.5% expansion and marking the best result since June 2020.