Croatia Industry November 2016


Croatia: Growth in industrial production accelerates in November

December 29, 2016

In November, industrial output in Croatia rose a strong 7.1% from the same month last year in seasonally and working-day adjusted terms, which came in well above October’s 1.7% increase and marked the highest result in ten months. The remarkable acceleration was due to stronger growth in both the manufacturing sector, which achieved the best result in seven months, and the traditionally volatile electricity, gas, steam and air conditioning sector. The fall in the mining and quarrying sector sharpened, however.

On a monthly basis, industrial production in November grew 3.7% in seasonally- and working-day adjusted terms, which was up from October’s 1.6% expansion and marked an eight-month high. Annual average growth in industrial production in November came in at 3.9%, up from October’s 3.6% expansion.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.5% in 2017, which is unchanged from last month’s estimate. In 2018, the panel sees industrial production growth decelerating to 3.3%.

Author: Massimo Bassetti, Economist

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Croatia Industry Chart

Croatia Industry November 2016

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

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