Croatia Industry

Croatia

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.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.5% in 2015, which is unchanged from last month’s estimate. In 2016, the panel sees industrial production growth at 2.6%.


Author: Teresa Kersting, Economist

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Croatia Industry December 2014

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


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