Croatia: Industrial production pulls the brake in February
In February, industrial output rose 0.6% in working-day adjusted terms over the same month last year, following January’s much stronger 4.6% increase, which had marked the fastest expansion in over two years.
February’s deceleration was caused by a sharp downturn in the electricity, gas, steam and air conditioning supply sector, as well along with more moderate growth in the manufacturing sector. On the other hand, the mining and quarrying sector rebounded, albeit mildly.
On a month-on-month basis, industrial production dropped 2.4% in seasonally- and working-day adjusted terms in February, swinging from January’s striking 9.6% jump, which had marked the steepest monthly rise on record. Meanwhile, annual average variation in industrial output deteriorated to minus 0.8% in February from minus 0.5% a month earlier.