Croatia Industry November 2017

Croatia

Croatia: Industrial production slumps in November

January 2, 2018

Industrial output dropped 1.6% in working-day adjusted terms from the same month last year in November, strongly contrasting October’s 4.3% expansion and marking the worst result in almost three years.

November’s result was dragged down by contractions in the electricity, gas, steam, and air conditioning and manufacturing sectors. The manufacture of transport equipment, metal products, and refined petroleum products recorded particularly sharp falls. Meanwhile, production in the mining and quarrying sub-sectors expanded, albeit moderately.

On a month-on-month basis, industrial production in November contracted 3.6% in seasonally- and working-day adjusted terms, contrasting October’s 2.7% increase. Annual average growth in industrial production in November decelerated to an almost two-year low of 3.5% (October: +4.2% year-on-year).

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.0% in 2018, which is down 0.3 percentage points from last month’s estimate. In 2019, the panel sees industrial production growth decelerating to 3.1%.


Author: Massimo Bassetti, Economist

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Croatia Industry November 2017

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


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