Croatia: Industrial production declines at slower pace in September
October 18, 2011
In September, industrial production fell 2.3% over the same month the last year, which represented a softer contraction compared to the previous month's 4.5% drop. According to the statistics office, the September print improved slightly as manufacturing declined less sharply. In contrast, mining and quarrying as well as electricity deteriorated further. A month-on-month comparison corroborates the improvement suggested by the annual figures. Industrial output expanded a seasonally adjusted 4.02% over the previous month, which contrasted the 4.83% drop in August. However, the annual average variation in industrial production stepped down from minus 1.2% in August to minus 1.6% in September.