Croatia: Industrial production contracts again in 2010
January 21, 2011
In December, industrial production grew 0.9% over the same month the year before. The expansion followed on a 0.2% rise in November but was not strong enough to pull full-year growth into positive territory. Industrial output has not recovered from the 9.3% contraction tallied in 2009, dropping 1.4% in 2010. The December reading reflected a further deterioration in the all-important manufacturing sector (November: -0.4% year-on-year: December: -1.6% yoy). On the other hand, mining and quarrying, as well as electricity, gas and steam recorded better performances in December compared to the previous month. A month-on-month comparison does not corroborate the improvement suggested by the annual figures, as industrial production decreased 1.02% over the previous month in seasonally adjusted terms, contrasting the 0.72% expansion registered in November.