Croatia: Industrial output pace of decline quickens in July
September 3, 2013
In July, industrial output contracted 4.1% over the same month last year in working-day adjusted terms, marking a deterioration over the 1.6% drop tallied in June. The deterioration reflected contractions in all the main sectors of economic activity.
A month-on-month comparison corroborates the deterioration seen in the annual figures; industrial production fell 0.9% in seasonally adjusted terms, which contrasted the 1.7% rise observed in June. Finally, annual average growth in industrial production inched up from minus 2.7% in June to minus 2.6% in July.
FocusEconomics Consensus Forecast panelists expect industrial production to fall 0.5% in 2013, which is unchanged from last month's estimate. In 2014, the panel sees industrial production growth at 2.1%.
Author: Armando Ciccarelli, Head of Data Solutions