Croatia Industry


Croatia: Industrial production expands in May on the back of manufacturing

June 27, 2014

In May, industrial output increased 1.3% over the same month last year in working-day adjusted terms, matching April’s result. The figure mainly reflected that an expansion in manufacturing more than compensated for a drop in mining and quarrying output as well as production in the electricity, gas, steam and air conditioning sector.

A month-on-month comparison corroborates the acceleration recorded in the annual figures; industrial production recorded a flat reading in seasonally-adjusted terms in May, after a 2.9% contraction was recorded in April. Annual average growth in industrial production improved from the previous month’s minus 1.6% to minus 1.1% in May and thus remained on an upward trend.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 0.3% in 2014, which is unchanged from last month’s estimate. In 2015, the panel sees industrial production growth at 2.2%.

Author: Teresa Kersting, Economist

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Croatia Industry Chart

Croatia Industry May 2014 0

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

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