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Croatia Industrial production November 2022

Croatia: Industrial output records largest decline in over two years in November

Industrial output slid 1.8% year on year in working-day adjusted terms in November, which was a deterioration from October’s 0.4% decrease. November’s outturn marked the worst reading since July 2020. The electricity, gas, steam and air conditioning supply sector registered the largest drop in output—down 6.6%. In addition, the total number of people employed in the industrial complex dropped 0.2% year on year. More positively, the total stock of finished products at the end of the month rose 1.7% compared to November 2021.

Meanwhile, on a seasonally and calendar adjusted monthly basis, factory output fell at a sharper rate of 1.9% in November (October: -1.4% mom), the worst result since April 2021. In turn, annual average industrial production growth fell to 2.2% in November (October: +2.7%), which marked an over one-year low.

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