Croatia: Industrial production rebounds in July
September 2, 2019
In July, industrial production rose a solid 3.0% in working-day adjusted terms over the same month last year, rebounding from June’s 5.6% plunge. As a result, the annual average variation in industrial output rose to minus 0.5% in July from minus 0.8% in June.
July’s increase was largely driven by a recovery of manufacturing output, particularly of food products. In addition, production in the electricity, gas, steam and air conditioning supply sector picked up compared to June. Meanwhile, the mining and quarrying sector contracted for the fifth consecutive month in July.
On a month-on-month basis, industrial production jumped 4.8% in seasonally- and working-day adjusted terms in July, contrasting June’s 2.2% slump and ending three successive monthly declines.
Author: Javier Colato, Economist