Croatia: Industrial production rebounds in May
June 30, 2017
Croatian industrial output in May increased 3.3% in working-day adjusted terms from the same month last year, contrasting April’s 0.6% contraction. The result came on the back of a significant expansion in the manufacturing sub-sector, while output in the mining and quarrying and electricity, gas, steam and air sub-sectors continued to decline, although the former dropped at a significantly slower pace than in April.
On a month-on-month basis, industrial production in May grew 2.4% in seasonally- and working-day adjusted terms, contrasting April’s 1.9% decrease and marking the best reading in five months. Annual average growth in industrial production in May came in at 3.5%, slightly above April’s 3.4% and reverting the downward trend that had started in January 2017.