Croatia: Industrial production contracts again in January
Industrial output declined 0.4% in working-day adjusted terms from the same month last year in January, a softer contraction from December’s 2.4% drop, which marked the worst result in almost three years.
January’s result was dragged down a sharp contraction in production in the electricity, gas, steam and air conditioning sector, while the production in the mining and quarrying, and manufacturing sectors rebounded from the previous month. The manufacture of tobacco and motor vehicles, trailers and semi-trailers recorded particularly sharp increases.
On a month-on-month basis, industrial production in January contracted 1.7% in seasonally- and working-day adjusted terms, contrasting December’s 1.6% increase. Annual average growth in industrial production in January decelerated further to an over two-year low of 1.6% (December: +2.0% year-on-year).