Croatia: Industrial production plunges in June
July 30, 2019
In June, industrial production plunged 5.6% in working-day adjusted terms over the same month last year, contrasting May’s soft 0.2% expansion. As a result, the annual average variation in industrial output declined to minus 0.8% in June from minus 0.1% in May.
June’s contraction was largely driven by a sharper fall in output in the mining and quarrying, and manufacturing sectors compared to May. Meanwhile, production in the electricity, gas, steam and air conditioning supply sector slowed markedly in June.
On a month-on-month basis, industrial production declined 2.2% in seasonally- and working-day adjusted terms in June, following May’s 1.7% slump and marking the third consecutive monthly drop.
Author: Javier Colato, Economist