Croatia: Industrial production continues to decline in December
January 27, 2012
In December, industrial production declined 1.8% over the same month the year before, following a 0.3% drop in November. According to the statistics office, industrial output deteriorated in December due to a marked contraction in mining and quarrying, as well as in electricity, gas and steam, whilst manufacturing improved somewhat. A month-on-month comparison, however, does not corroborate the deterioration suggested by the annual figures, as industrial output rose 0.5% in seasonally adjusted terms in December, following on a flat reading in November. In the full year 2011, industrial production contracted 1.2%, which was broadly unchanged from the 1.4% drop recorded in 2010.