Croatia: Industrial production expands at fastest pace in over five years
January 29, 2015
In December, industrial output grew 5.3% over the same month of the previous year in working-day adjusted terms, coming in above November’s 2.8% expansion and marking the largest gain since April 2008. The increase mainly reflected stronger growth in manufacturing as well as electricity, gas, steam and air conditioning. Moreover, mining and quarrying contracted at a slower pace than in November.
On a monthly basis, industrial production decreased 0.2% in seasonally-adjusted terms in December, contrasting November’s 2.8% expansion. The overall trend continued to improve as annual average growth in industrial production rose from November’s 0.7% to 1.3% in December.