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.