Croatia Industry January 2018


Croatia: Industrial production contracts again in January

March 13, 2018

Industrial output declined 0.4% in working-day adjusted terms from the same month last year in January, a softer contraction from December’s 2.4% drop, which marked the worst result in almost three years.

January’s result was dragged down a sharp contraction in production in the electricity, gas, steam and air conditioning sector, while the production in the mining and quarrying, and manufacturing sectors rebounded from the previous month. The manufacture of tobacco and motor vehicles, trailers and semi-trailers recorded particularly sharp increases.

On a month-on-month basis, industrial production in January contracted 1.7% in seasonally- and working-day adjusted terms, contrasting December’s 1.6% increase. Annual average growth in industrial production in January decelerated further to an over two-year low of 1.6% (December: +2.0% year-on-year).

Croatia Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.0% in 2018, which is down 0.3 percentage points from last month’s estimate. In 2019, the panel sees industrial production growth decelerating to 3.1%.

Author: Massimo Bassetti, Senior Economist

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Croatia Industry Chart

Croatia Industry January 2018

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

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