Croatia: Industrial production closes 2019 on a low note
Industrial production slumped 2.2% in working-day adjusted terms over the same month last year in December, a sharper drop than November’s 0.4% contraction. Conversely, annual average variation in industrial output improved from 0.2% in November to 0.5% in the last month of 2019.
December’s faster decline was due to a much softer expansion in the utilities sector. Meanwhile, mining and quarrying output continued to plunge, albeit at a somewhat softer pace than in November, and the contraction in manufacturing production also eased slightly, even though it remained sizable.
On a month-on-month basis, industrial production slid 1.5% in seasonally- and working-day adjusted terms, worsening from the 0.3% decrease in November.