Croatia Industrial production February 2021

Croatia

Croatia: Industrial output grows at fastest pace since December 2016 in February

March 31, 2021

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.

FocusEconomics’ panelists see industrial production expanding 4.4% in 2021, which is unchanged from last month’s forecast. In 2022, our panel sees industrial production growing 3.5%.


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Croatia Industry February 2021 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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