Croatia Industry March 2020


Croatia: Industrial activity contracts for fifth consecutive month in March

April 30, 2020

Industrial output decreased 4.9% year-on-year in March (February: -2.1% yoy). The sharp fall was driven by plunging mining and quarrying and manufacturing output. In contrast, electricity, gas, steam and air conditioning production expanded.

On a seasonally-adjusted monthly basis, industrial production fell 2.8% in March (February: +1.0% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.2% in March, down from February's minus 0.5% reading.

FocusEconomics’ panelists see industrial production contracting 8.4% this year, which is down 2.0 percentage points from last month’s forecast. Next year, our panel sees industrial production growing 4.4%.

Author: Angela Bouzanis, Lead Economist

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Croatia Industry Chart

Croatia Industry March 20 20

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

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