Croatia Industry December 2018

Croatia

Croatia: Industrial production suffers sharpest contraction in over six years in December

January 29, 2019

In December, industrial output fell 6.6% in working-day adjusted terms over the same month last year, deteriorating from November’s 0.8% dip and marking the sharpest drop in over six years.

December’s plunge was largely driven by marked decline in manufacturing output, swinging from the mild expansion recorded in the previous month. In addition, both the mining and quarrying, and electricity, gas, steam and air conditioning supply sectors posted greater losses compared to November.

On a month-on-month basis, industrial production tumbled 2.9% in seasonally- and working-day adjusted terms in December, following November’s 0.4% downturn. Meanwhile, annual average variation in industrial output worsened to minus 1.0% in December from minus 0.7% a month earlier.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.8% in 2019, which is down 0.5 percentage points from last month’s estimate, and 1.9% in 2020.


Author:, Economist

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Croatia Industry December 2018

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


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