Croatia: Industrial production growth slows in July
September 1, 2017
Industrial output in July increased 2.5% in working-day adjusted terms from the same month last year, following June’s strong 4.0% expansion.
July’s result was the lowest reading in three months. It was driven by weaker growth in the manufacturing sub-sector, although the mining and quarrying, and the electricity, gas, steam, and air conditioning supply sub-sectors recorded smaller contractions in July than they did in June.
On a month-on-month basis, industrial production in July contracted 1.1% in seasonally- and working-day adjusted terms, a flip from June’s 1.1% increase. Annual average growth in industrial production in July came in at 3.7% (June: +3.5% year-on-year), the highest reading in four months.
Author: Edward Gardner, Economist