Croatia Industry October 2018

Croatia

Croatia: Industrial production drops for the fourth consecutive month in October

November 29, 2018

In October, industrial output fell 2.4% in working-day adjusted terms over the same month last year, moderating slightly from the 2.6% drop recorded in September and marking the fourth consecutive month of year-on-year contractions.

October’s dip mainly reflected a marked decline in manufacturing output, primarily of fabricated metal and food products. Similarly, the mining and quarrying sector continued to shrink in the month. In contrast, output in the electricity, gas, steam and air conditioning supply sector rebounded after falling slightly in September.

On a month-on-month basis, industrial production rose 1.3% in seasonally- and working-day adjusted terms in October, contrasting the 1.5% dip logged in September. Meanwhile, annual average variation in industrial production weakened from 0.2% contraction in September to a larger 0.8% contraction in October.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.3% in 2019, which is down 0.2 percentage points from last month’s estimate, and 2.2% in 2020.


Author:, Economist

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Croatia Industry October 2018

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Croatian Bureau of Statistics (CBS).


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