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.