Croatia: Industrial production rebounds strongly in January
In January, industrial output rose 4.7%% in working-day adjusted terms over the same month last year, contrasting December’s sharp 6.6% decline and marking the strongest expansion in over two years.
January’s jump was largely driven by the solid rebound in output in the manufacturing as well as the electricity, gas, steam and air conditioning supply sectors. Meanwhile, the mining and quarrying sector continued to contract, albeit at a weaker pace compared to December.
On a month-on-month basis, industrial production surged 9.6% in seasonally- and working-day adjusted terms in January, rebounding from December’s 2.9% downturn and logging the steepest monthly rise on record. Meanwhile, annual average variation in industrial output improved to minus 0.7% in January from minus 1.0% a month earlier.