Croatia Industry January 2017

Croatia

Croatia: Growth in industrial production moderates in January

March 10, 2017

In January, industrial output grew 4.0% from the same month last year in seasonally and working-day adjusted terms, which came in below December’s impressive 14.9% increase. Growth came on the back of expansions in both the electricity, gas, steam and air conditioning and manufacturing sectors, although the latter decelerated considerably from the previous month. On the downside, the mining and quarrying sector continued to contract.

On a monthly basis, industrial production in January fell 6.9% in seasonally and working-day adjusted terms, which contrasted December’s 3.9% expansion and marked the lowest result in three months. Annual average growth in industrial production in January came in at 4.7%, down from December’s 5.1% 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 January 2017

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


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