Croatia Industry June 2018

Croatia

Croatia: Industrial production recovers in June

July 31, 2018

In June, industrial output rebounded to an eight-month high of 3.1% in working-day adjusted terms over the same month last year, contrasting the 0.7% contraction recorded in May.

June’s recovery was largely driven by a sharp acceleration in electricity, gas, steam and air conditioning supply, which grew by over a quarter percentile. Moreover, manufacturing production also picked up in June. Meanwhile, mining and quarrying output continued to contract, albeit at a softer pace than in May.

On a month-on-month basis, industrial production expanded 4.5% in seasonally- and working-day adjusted terms in June, up from the 1.8% increase registered in May and the highest reading in nearly two and a half years. Meanwhile, annual average growth in industrial production ticked down from 1.0% in May to 0.9% in June.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.2% in 2018, which is down 0.1 percentage points from last month’s estimate. In 2019, the panel sees industrial production growth of 2.9%.


Author:, Economist

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Croatia Industry June 2018

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


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