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.
Author: Lindsey Ice, Economist