Croatia: Industrial activity contracts for fifth consecutive month in March
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.