Croatia Industry August 2016


Croatia: Growth in industrial production accelerates in August

September 29, 2016

In August, industrial output rose 2.5% over the same month of last year in seasonally and working-day adjusted terms, which represented an acceleration over July’s weaker 1.2% increase. The speeding up was due to stronger expansions in all three sectors of industry: manufacturing, mining and quarrying, as well as electricity, gas, steam and air conditioning. The significant advance in growth from 6.8% in July to 11.7% in August observed in the electricity, gas, steam and air conditioning sector is not uncommon in this traditionally highly volatile sector.

On a monthly basis, industrial production in August dropped 1.2% in seasonally and working-day adjusted terms, which represented a sharper decline than July’s 0.5% drop. Annual average growth in industrial production in August matched the 4.3% expansion recorded in July.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.0% in 2016, which is up 0.1 percentage points from last month’s estimate. In 2017, the panel sees industrial production growth decelerating to 3.5%.

Author: Massimo Bassetti, Economist

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Croatia Industry Chart

Croatia Industry August 2016

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

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