Croatia: Industrial production decelerates in February
March 28, 2014
In February, industrial output increased 1.6% over the same month last year in working-day adjusted terms, which was a setback over the 2.2% expansion tallied in January. The figure mainly reflected that a significant deceleration in manufacturing and a fall in mining and quarrying output were more than compensated for by an acceleration in the production of the electricity, gas, steam and air conditioning sector. A month-on-month comparison confirms the deceleration recorded in the annual figures; industrial production decreased 2.8% in seasonally-adjusted terms in February (January: +5.4% month-on-month), which marks the lowest rate tallied in five months. Annual average growth in industrial production increased from the previous month's minus 2.0% to minus 1.5% in February and thus indicates an upward trend. FocusEconomics Consensus Forecast panelists expect industrial production to expand 0.1% in 2014, which is unchanged from last month's estimate. In 2015, the panel sees industrial production growth at 2.0%.
Author: Armando Ciccarelli, Head of Data Solutions