Croatia: Industrial output picks up in March
April 30, 2013
In March, industrial output rose 4.1% over the same month last year in working-day adjusted terms, thus reverting the 4.1% drop tallied in February. The improvement was mainly driven by a rebound in manufacturing production along with an acceleration in electricity, gas, steam and air conditioning.
On a monthly basis, industrial production rose 2.0% in seasonally adjusted terms, which contrasts the 2.9% drop observed in February. As a result of the annual increase, the trend improved, with annual average growth in industrial production stepping up from minus 4.6% in February to minus 3.5% in March.
FocusEconomics Consensus Forecast panellists expect industrial production to fall 0.2% in 2013, which is down 0.4 percentage points from last month's estimate. In 2014, the panel sees industrial production growth at 2.5%.
Author: Armando Ciccarelli, Head of Data Solutions