Croatia Industry June 2016

Croatia

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.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.9% in 2016, which is down 0.1 percentage points from last month’s estimate. In 2017, the panel sees industrial production growth stable at 3.1%.


Author: Massimo Bassetti, Economist

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Croatia Industry June 2016 0

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


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