Croatia: Industrial production growth cools in June
Industrial production growth moderated to 8.3% in annual terms in June, following May’s 15.8% rise. June’s softer growth was largely attributed to a weaker expansion in manufacturing output. Meanwhile, mining and quarrying production tumbled over the previous month.
On a seasonally- and calendar-adjusted monthly basis, industrial production bounced back 1.5% in June, contrasting May’s 2.0% slide. Accordingly, the trend improved, with the annual average variation of industrial production coming in at plus 4.4% in June (May: 3.6%).
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%.