Croatia: Industrial output records best reading since December 2016 in March
April 30, 2021
Industrial production expanded 9.9% year-on-year in working-day adjusted terms in March (February: +5.0% yoy). The print marked the best result since December 2016 and was flattered by a low base effect. March’s upturn was largely driven by a stronger growth in manufacturing and electricity, gas, steam and air conditioning supply output. Moreover, mining and quarrying production bounced back to growth.
On a monthly basis, factory output increased 3.4% in seasonally-adjusted terms in March, which matched February’s expansion. Moreover, the trend improved, with the annual average variation of industrial production coming in at an over one-year high of minus 1.0% in March, up from February's minus 2.3%.