Croatia Industrial production January 2021


Croatia: Industrial productions grows at fastest pace in one-and-a-half years in January

March 5, 2021

Industrial output increased 1.8% year-on-year in working-day adjusted terms in the first month of 2021, jumping from December’s 0.3% growth and hitting a one-and-a-half year high. January’s better result was largely owed to a solid increase of electricity, gas, steam and air conditioning output, as well as rebounding manufacturing production. Accordingly, the trend improved, with the annual average variation of industrial production coming in at minus 2.9% in January, up from December’s minus 3.4%.

Lastly, on a seasonally- and working-day adjusted monthly basis, industrial output also rebounded, grew 1.5% in January, up from December’s 0.6% increase.

FocusEconomics’ panelists see industrial production expanding 4.4% in 2021, which is down 0.2 percentage points from last month’s forecast. In 2022, our panel sees industrial production growing 3.5%.


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Croatia Industrial production Chart

Croatia Industry January 2021 0

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: Croatian Bureau of Statistics (CBS) and FocusEconomics calculations.

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