Croatia Industry

Croatia

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.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.4% in 2015, which is down 0.1 percentage points from last month’s estimate. In 2016, the panel sees industrial production growth at 2.4%.


Author: Teresa Kersting, Economist

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Croatia Industry January 2015

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


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