Croatia Industry

Croatia

Croatia: Industrial production decelerates in October

November 28, 2014

In October, industrial output grew 2.7% over the same month last year in working-day adjusted terms, coming in below September’s strong 3.8% increase, which had marked the largest gain since March 2013. The expansion mainly reflected that an increase in manufacturing more than offset a sharp drop in the production in the electricity, gas, steam and air conditioning sector and a slight decrease in mining and quarrying output.

A month-on-month comparison corroborates the deceleration recorded in the annual figures; industrial production increased 0.2% in seasonally-adjusted terms in October, coming in below September’s 4.6% expansion. Nevertheless, the overall trend improved as annual average growth in industrial production rose from September’s minus 0.1% to plus 0.4% in October.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 0.4% in 2014, which is up 0.1 percentage points from last month’s estimate. In 2015, the panel sees industrial production growth at 1.4%, which is down 0.1 percentage points from last month’s projection.


Author: Teresa Kersting, Economist

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