Croatia Industry May 2017

Croatia

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.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.0% in 2017, which is unchanged from last month’s estimate. In 2018, the panel sees industrial production growth decelerating to 3.3%.


Author: Massimo Bassetti, Economist

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Croatia Industry May 2017

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


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