Croatia Industry June 2019

Croatia

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.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.4% in 2019, which is up 0.3 percentage points from last month’s estimate, and 2.2% in 2020.


Author:, Economist

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Croatia Industry June 2019

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


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