Croatia: Industrial production grows at softer pace in May
Industrial production grew 15.8% year-on-year in working-day adjusted terms in May, down from April’s 17.3% rise. May’s downtick was largely attributed to notably softer growth in electricity, gas, steam and air conditioning supply output. That said, mining and quarrying as well as manufacturing production both improved.
On a seasonally- and calendar-adjusted monthly basis, industrial production slid 2.0% in May, slightly below April’s 2.1% drop. Accordingly, the trend improved slightly, with the annual average variation of industrial production coming in at plus 1.3% in May (April: 1.2%).
FocusEconomics’ panelists see industrial production expanding 6.3% in 2021, which is unchanged from last month’s forecast. In 2022, our panel sees industrial production growing 3.7%.