Croatia: Industrial production falls in March
April 30, 2018
Industrial output dropped 1.7% in working-day adjusted terms from the same month last year in March, contrasting the 3.3% expansion recorded in February.
March’s result was driven by a sharper year-on-year contraction in the mining and quarrying sector compared to in February and a marked drop in manufacturing output following two consecutive months of expansion. Conversely, the electricity, gas, steam and air conditioning sector improved markedly from February, posting stronger output gains in March.
On a month-on-month basis, industrial production in March fell 4.3% in seasonally- and working-day adjusted terms, contrasting February’s 2.2% increase and marking the largest month-on-month drop in over a year. Meanwhile, annual average growth in industrial production moderated from 1.6% in February to 1.5%, the lowest reading since May 2015.
Croatia Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.1% in 2018, which is down 0.1 percentage points from last month’s estimate. In 2019, the panel sees industrial production growth decelerating to 3.0%.
Author: Javier Colato, Economist