Croatia: Industrial production contracts markedly in January
March 5, 2015
In January, industrial output contracted 5.0% over the same month of the previous year in working-day adjusted terms, marking the largest drop since May 2013 and contrasting December’s 5.3% expansion. The decrease mainly reflected a contraction in manufacturing as well as much lower gains in the electricity, gas, steam and air conditioning sector.
On a monthly basis, industrial production decreased 4.0% in seasonally-adjusted terms in January, coming in below December’s milder 0.3% drop. The overall trend deteriorated as annual average growth in industrial production fell from December’s 1.3% to 0.7% in January.