Croatia: Industrial production expands for the first time in eight months
September 28, 2012
In August, industrial output increased 0.6% over the same month last year in working-day adjusted terms, which contrasted the 5.5% decline tallied in July. In fact, the reading represents the first expansion seen since December 2011. According to the Croatian Bureau of Statistics, the result mainly reflected an improvement in the manufacturing sector. On a monthly basis, industrial production increased 0.7% over the previous month in seasonally adjusted terms, which was below the 1.6% rise observed in July. As a result of the positive growth in August, the trend is now pointing upwards, with annual average variation in industrial production rising from minus 4.0% in July to minus 3.6% in August.