Croatia: Industrial production loses steam in October
November 29, 2019
In October, industrial production rose a meagre 0.3% in working-day adjusted terms over the same month last year, marking a deceleration from September’s 2.0% year-on-year upturn. Meanwhile, annual average variation in industrial output rebounded 0.1% in October from the 0.2% decline in September.
October’s slowdown was underpinned by a sharp contraction in mining and quarrying, along with a drop in manufacturing production, which contrasted a rebound in both in the previous month. The downturn was cushioned somewhat by an acceleration in the electricity, gas, steam and air conditioning supply sector.
On a month-on-month basis, industrial production fell 1.3% % in seasonally- and working-day adjusted terms in October, contrasting September’s 2.5% increase.
Author: Nihad Ahmed, Economist