Croatia Industrial production August 2022

Croatia

Croatia: Industrial output records lowest expansion since March in August

September 30, 2022

Industrial output expanded 0.8% year on year in seasonally and working-day adjusted terms in August, which was a deterioration from July's 2.8% increase. August's outturn marked the worst reading since March and came amid a contraction in manufacturing compared to the same month last year.

On a monthly basis, industrial output decreased 0.8% in seasonally adjusted terms in August, a less pronounced decrease than July’s 1.1% fall. Meanwhile, annual average industrial production growth fell to 3.0% in August (July: +3.4%), signaling a worsening trend in the industrial sector.

FocusEconomics Consensus Forecast panelists project industrial output to increase 2.2% in 2022, which is up 0.6 percentage points from last month’s projection. For 2023, the panel projects industrial output to expand 1.1%.


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Croatia Industry August 2022

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Croatia Central Statistics Office and FocusEconomics calculations.


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