Croatia Industry February 2016

Croatia

Croatia: Industrial production growth decelerates in February

March 31, 2016

In February, industrial output rose 4.4% over the same month of last year in working-day adjusted terms, which was below January’s 9.3% increase. The slowdown was caused by a moderation in the manufacturing growth rate as well as by a steeper drop in year-on-year production in the electricity, gas, steam and air conditioning sector.

On a monthly basis, industrial production in February fell 1.6% in seasonally-adjusted terms, which contrasted January’s 3.2% increase. Annual average growth advanced from January’s 3.5% to 3.9% in February, marking the highest reading since March 2008.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.5% in 2016, which is unchanged from last month’s estimate. In 2017, the panel sees industrial production growth at 2.9%.


Author: Massimo Bassetti, Economist

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Croatia Industry February 2016

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


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