Croatia: Industrial production rebounds strongly in January
March 4, 2014
In January, industrial output expanded 2.2% over the same month last year in working-day adjusted terms, which was a significant improvement over the 2.8% drop tallied in December. January's increase put an end to nine consecutive months of declining output. The rebound mainly reflected a healthy increase in manufacturing output, as well as a lesser contraction in electricity, gas, steam and air conditioning production. Conversely, the mining and quarrying category dipped into the red in January.
A month-on-month comparison corroborates the improvement recorded in the annual figures; industrial production rose 5.4% in seasonally-adjusted terms in January (December: -2.3% month-on-month), which marks the largest increase tallied since September 2011. Annual average growth in industrial production was steady at the previous month's minus 2.0%.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 0.4% in 2014, which is down 0.2 percentage points from last month's estimate. In 2015, the panel sees industrial production growth at 2.2%.