Croatia: Industrial production contracts again in August
September 28, 2018
In August, industrial output fell 1.0% in working-day adjusted terms over the same month last year, deteriorating further than the 0.9% drop recorded in July.
August’s dip was largely driven by a sharper decline in manufacturing output compared to the previous month. Moreover, mining and quarrying output continued to contract in August while growth in the electricity, gas, steam and air conditioning supply sector cooled slightly compared to July.
On a month-on-month basis, industrial production rose 0.3% in seasonally- and working-day adjusted terms in August, rebounding from the 3.7% decline logged in July, which had marked the lowest reading in one and a half years. Meanwhile, annual average growth in industrial production edged down from 0.6% in July to 0.3% in August, a near four-year low.
Croatia Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.5% in 2018, which is down 0.2 percentage points from last month’s estimate. In 2019, the panel sees industrial production growth of 2.7%, down 0.1 percentage points from last month’s forecast.
Author: Javier Colato, Economist