Croatia Industry

Croatia

Croatia: Industrial production recovers in July

September 2, 2014

In July, industrial output increased 1.4% over the same month last year in working-day adjusted terms, contrasting June’s 1.7% contraction and recording the largest annual gain in five months. The figure mainly reflected that an expansion in manufacturing more than compensated for declines in the production of the electricity, gas, steam and air conditioning sector as well as in mining and quarrying.

A month-on-month comparison corroborates the rebound recorded in the annual figures; industrial production rose 2.1% in seasonally-adjusted terms in July, contrasting June’s 1.0% drop. The overall trend improved as annual average growth in industrial production rose from June’s minus 1.1% to minus 0.7% in July.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 0.6% in 2014, which is unchanged from last month’s estimate. In 2015, the panel sees industrial production growth at 1.9%.


Author: Teresa Kersting, Economist

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Croatia Industry July 2014

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


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