Croatia: Industrial production contracts at faster pace in June
July 31, 2012
In June, industrial output contracted 5.5% over the same month last year in working-day adjusted terms, which was below the 3.8% drop recorded in May. According to the Croatian Bureau of Statistics, all the main subcategories deteriorated compared to the previous month, with the electricity, gas, steam and air conditioning supply category falling into the red and the mining sector plunging 23.1%. A month-on-month analysis corroborates the deterioration suggested by annual figures, as industrial production plunged 1.6% over the previous month in seasonally adjusted terms, which contrasted the 2.6% rise observed in May. Owing to the negative readings seen in recent months, the trend continues to deteriorate, with annual average variation in industrial production falling from minus 2.8% in May to minus 3.4% in June.