Croatia Industrial production March 2022

Croatia

Croatia: Industrial production falls in March

May 3, 2022

Industrial production fell 1.9% year-on-year in working-day adjusted terms in March, swinging from February’s 4.0% increase. March’s decline was attributed to decreases in manufacturing output and mining and quarrying production, while electricity, gas, steam and air conditioning supply increased.

On a seasonally- and calendar-adjusted monthly basis, industrial production contracted 2.6% in March (February: +2.6% s.a. mom). Meanwhile, the trend weakened, with the annual average growth of industrial production coming in at 5.9%, down from February’s 6.7% reading.

FocusEconomics’ panelists see industrial production expanding 2.9% in 2022, which is down 0.5 percentage points from last month’s forecast. In 2023, our panel sees industrial production growing 3.1%.


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