Croatia Industry September 2016

Croatia

Croatia: Growth in industrial production decelerates in September

October 31, 2016

In September, industrial output in Croatia rose 1.9% over the same month of last year in seasonally and working-day adjusted terms, which represented a slowdown from August’s stronger 2.5% increase. The deceleration was due to the mining and quarrying sector swinging from growth to a sharp drop—its worst reading in two years—as well as to the weaker growth recorded in the electricity, gas, steam and air conditioning sector. On the other hand, growth in the manufacturing sector speeded up, hitting a five-month high.

On a monthly basis, industrial production in September grew a six-month high of 3.6% in seasonally and working-day adjusted terms, which contrasted August’s 1.1% drop. Annual average growth in industrial production in September came in at 4.0%, down from August’s 4.3% expansion.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.2% 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%, which is unchanged from last month’s projection.


Author: Massimo Bassetti, Economist

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Croatia Industry Chart


Croatia Industry September 2016

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


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