Croatia: Industrial output contracts for fourth year in a row
January 29, 2013
In December, industrial output decreased 5.6% over the same month the year before in working-day adjusted terms, which marks a deterioration over the 4.3% decline tallied in November. According to the Croatian Bureau of Statistics, all the main categories deteriorated compared to the previous month with the exception of electricity, gas steam and air conditioning, which expanded at its fastest pace in two years.
On a monthly basis, industrial production dropped 0.8% over the previous month in seasonally adjusted terms, which contrasted the 1.1% increase observed in November. In the full year 2012, industrial production contracted 5.5%, which was down from the 1.2% drop recorded in 2011. The 2012 drop constituted the largest annual decline in three years and marked a fourth consecutive year of contraction in industrial output.
Author: Armando Ciccarelli, Head of Data Solutions