Croatia: Industrial production grows at faster pace in February
Industrial production growth accelerated to 4.1% year-on-year in working-day adjusted terms in February, up from January’s 3.5% increase. February’s increase was attributed to increases in manufacturing output and electricity, gas, steam and air conditioning supply, while mining and quarrying production dropped.
On a seasonally- and calendar-adjusted monthly basis, industrial production jumped 2.7% in February (January: -0.5% s.a. mom). Meanwhile, the trend weakened, with the annual average growth of industrial production coming in at 6.7%, down from January’s 6.8% 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%.