Croatia Industrial production March 2021

Croatia

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%.

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 3.5%.


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Croatia Industry March 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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