Croatia Industry May 2019

Croatia

Croatia: Industrial production almost stagnates in May

June 28, 2019

In May, industrial production rose an anemic 0.2% in working-day adjusted terms over the same month last year, following April’s robust 3.0% expansion. That said, the annual average variation in industrial output remained unchanged at April’s minus 0.1% in May.

May’s reading was the result of a surge in output in the electricity, gas, steam and air conditioning supply sector more than offsetting plummeting production in the mining and quarrying sector and a sizable decline in manufacturing output.

On a month-on-month basis, industrial production plunged 1.7% in seasonally- and working-day adjusted terms in May, following April’s 0.2% dip.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.0% in 2019, which is unchanged from last month’s estimate, and 2.2% in 2020.


Author: Massimo Bassetti, Economist

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Croatia Industry May 2019

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


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