Croatia: Industrial production declines in July
In July, industrial output fell 0.9% in working-day adjusted terms over the same month last year, contrasting the 3.1% rise recorded in June.
July’s dip was largely driven by a drop in manufacturing output, which had expanded in the previous month. Moreover, mining and quarrying output continued to contract in July while growth in the electricity, gas, steam and air conditioning supply sector moderated sharply compared to June.
On a month-on-month basis, industrial production declined 4.9% in seasonally- and working-day adjusted terms in July, contrasting the 4.5% climb logged in June and marking the lowest reading in nearly five years. Meanwhile, annual average growth in industrial production edged down from 0.9% in June to 0.6% in July, an over three-year low.