Croatia: Industrial production dips in November
December 29, 2011
In November, industrial production declined 0.3% over the same month last year, which contrasted both the previous month's 2.1% rise and the 0.2% increase recorded in November 2010. According to the statistics office, November output deteriorated due to a slowdown in manufacturing, whilst mining and quarrying, as well as electricity, gas and steam supply all contracted. A month-on-month comparison, however, does not corroborate the deterioration suggested by the annual figures. In November, industrial output remained flat in seasonally adjusted terms, which contrasted the 0.7% decline in October. Owing to the subdued annual reading, the trend worsened, with the annual average variation in industrial production inching down from minus 0.9% in October to minus 1.0% in November.