Croatia Industry February 2017

Croatia

Croatia: Growth in industrial production moderates in February

March 31, 2017

In February, industrial output in Croatia grew 2.3% from the same month last year in seasonally and working-day adjusted terms, which came in below January’s robust 4.0% increase. Growth came on the back of expansions in both the electricity, gas, steam and air conditioning and manufacturing sectors—although both sectors decelerated from the previous month. On the downside, the mining and quarrying sector continued to contract, and did so at the sharpest pace in almost two and a half years.

On a monthly basis, industrial production in February fell 1.5% in seasonally and working-day adjusted terms, which was a softer contraction than January’s 6.8% drop. Annual average growth in industrial production in February came in at 4.5%, down from January’s 4.7% 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 February 2017

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


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