Croatia: Economy slows in third quarter
November 25, 2011
In the third quarter, GDP grew 0.6% over the same quarter last year, based on a preliminary flash estimate released by the Croatian Bureau of Statistics on 25 November. The print came in slightly below the 0.8% expansion seen in the second quarter, but, nevertheless, represented the second consecutive quarter of positive growth. Overall economic activity moderated across the board. Exports slowed, but still remained resilient (Q2: +21.9% year-on-year; Q3: +14.0% yoy), while industrial production dived into negative territory (Q2: +1.0% yoy; Q3: -2.4% yoy). Moreover, retail sales moderated slightly (Q2: +1.8% yoy; Q3: +1.4% yoy) as did tourist arrivals (Q2: +12.1% yoy; Q3: +7.0% yoy). Full details of the national accounts data set will be published on 20 December.