Croatia Industry August 2017

Croatia

Croatia: Industrial production growth speeds up in August

October 2, 2017

Industrial output in August increased 3.2% in working-day adjusted terms from the same month last year, following July’s softer 2.5% expansion.

August’s result was driven by healthy expansions in the manufacturing and electricity, gas, steam, and air conditioning supply sub-sectors, although the mining and quarrying sub-sector continued to contract, albeit softly, in August.

On a month-on-month basis, industrial production in August expanded 0.3% in seasonally- and working-day adjusted terms, contrasting July’s 1.1% decrease. Annual average growth in industrial production in August came in at 3.9% (July: +3.8% year-on-year), the highest reading in five months.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.0% in 2017, which is down 0.3 percentage points from last month’s estimate. In 2018, the panel sees industrial production growth decelerating to 3.1%.


Author: Massimo Bassetti, Economist

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Croatia Industry August 2017

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


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