Croatia Industry March 2017

Croatia

Croatia: Industrial production flat in March

April 28, 2017

In March, industrial output in Croatia remained unchanged from the same month last year in seasonally and working-day adjusted terms, which came in below February’s 2.3% increase and represented the weakest reading in over two years. The result came on the back of an improvement in the manufacturing sector, which offset a small decline in the mining sector and a strong swing from growth to contraction in the volatile electricity, gas, steam and air conditioning sector, which recorded the worst result since December 2015.

On a monthly basis, industrial production in March expanded 1.5% in seasonally and working-day adjusted terms, which contrasted February’s 1.5% drop. Annual average growth in industrial production in March came in at 3.9%, down from February’s 4.5% expansion.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.5% in 2017, which is unchanged from last month’s estimate. In 2018, the panel sees industrial production growth decelerating to 3.3%.


Author: Massimo Bassetti, Economist

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Croatia Industry March 2017

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


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