Croatia: Industrial output expands at fastest pace in over four years
March 4, 2013
In January, industrial output rose 3.4% over the same month last year in working-day adjusted terms, which contrasts the 5.4% decline tallied in December. The January rise marks the first expansion in 13 months and the strongest reading since June 2008. The increase was driven by a rebound in manufacturing production, while mining and quarrying as well as electricity, gas and water supply deteriorated compared to the previous month.
On a monthly basis, industrial production rose 2.3% in seasonally adjusted terms, which contrasted the 0.6% drop observed in December. As a result of the strong annual reading, the trend is now pointing upwards, with annual average growth in industrial production rising from minus 5.1% in December to minus 4.4% in January.
Author: Armando Ciccarelli, Head of Data Solutions