Croatia: Growth in industrial production accelerates considerably in June
July 29, 2016
In June, industrial output rose 4.1% over the same month of last year in working-day adjusted terms, which represented a significant acceleration from May’s 1.6% increase. The pick-up was due to a stronger expansion in all the three sectors of industry: manufacturing, mining and quarrying, and electricity, gas, steam and air conditioning. The expansion observed in production in the traditionally volatile electricity, gas, steam and air conditioning sector was particularly surprising as it reached an all-time record.
On a monthly basis, industrial production in June grew 0.3% in seasonally-adjusted terms, which contrasted May’s 1.4% drop and marked the highest result in three months. Annual average growth in industrial production accelerated from May’s 4.3% expansion to 4.5% in June.