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.
Author: Javier Colato, Economist