Croatia Industry


Croatia: Industrial production rebounds, expands at fastest pace in over a year

October 29, 2014

In September, industrial output grew 3.8% over the same month last year in working-day adjusted terms, contrasting August’s steep 4.7% contraction, and recording the largest gain since March 2013. The expansion mainly reflected sizable increases in manufacturing and the production of the electricity, gas, steam and air conditioning sector, which more than offset a decrease in the output of mining and quarrying.

A month-on-month comparison corroborates the improvement recorded in the annual figures; industrial production increased 4.6% in seasonally-adjusted terms in September, contrasting August’s 4.1% drop. The overall trend also improved as annual average growth in industrial production rose from August’s minus 0.8% to minus 0.1% in September.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 0.4% in 2014, which is down 0.1 percentage points from last month’s estimate. In 2015, the panel sees industrial production growth at 1.7%, which is down 0.4 percentage points from last month’s projection.

Author: Teresa Kersting, Economist

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Croatia Industry Chart

Croatia Industry September 2014

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

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