Croatia: Industrial production growth slows in September
October 29, 2021
Industrial production grew a softer 2.8% in annual terms in September, cooling from August’s 5.2%. September’s slowdown was largely attributed to a weaker growth in manufacturing output and lower electricity, gas, steam and air conditioning supply.
On a seasonally- and calendar-adjusted monthly basis, industrial production slid 1.2%, swinging from August’s 0.7% expansion. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at plus 5.7 in September (August: 5.3%).
FocusEconomics’ panelists see industrial production expanding 3.5% in 2022, which is down 0.2 percentage points from last month’s forecast. In 2023, our panel sees industrial production growing 3.2%.