Croatia Industry December 2016

Croatia

Croatia: Growth in industrial production hits multi-year high in December

January 30, 2017

In December, industrial output rose an impressive 14.9% from the same month last year in seasonally and working-day adjusted terms, which came in well above November’s robust 7.2% increase and marked a multi-year high. The remarkable acceleration was mainly due both to faster growth in the manufacturing sector, which achieved the best result on record, and to a strong expansion in the volatile electricity, gas, steam and air conditioning sector. On the downside, the fall in the mining and quarrying sector sharpened.

On a monthly basis, industrial production in December grew 4.0% in seasonally- and working-day adjusted terms, which was up from November’s 2.7% expansion and marked the highest result since March 2016. Annual average growth in industrial production in December came in at 5.1%, up from November’s 3.9% 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 December 2016

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


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