Croatia: Industrial production growth cools marginally in October
Industrial production grew a marginally weaker 2.6% in annual terms in October, from September’s 2.8%. The slowdown was chiefly driven by a marked deceleration in manufacturing output growth. That said, electricity, gas, steam and air conditioning supply rose significantly over the prior month.
On a seasonally- and calendar-adjusted monthly basis, industrial production rebounded 1.8% in October, contrasting the 1.2% contraction tallied in the prior month. Meanwhile, the trend remained stable, with the annual average variation of industrial production coming in at September’s 5.7%.
FocusEconomics’ panelists see industrial production expanding 3.4% in 2022, which is down 0.1 percentage points from last month’s forecast. In 2023, our panel sees industrial production growing 3.1%.