Croatia: Industrial output reverts back to negative territory
March 29, 2013
In February, industrial output fell 4.1% over the same month last year in working-day adjusted terms, which contrasts the 3.4% rise tallied in January. The contraction was mainly driven by a deterioration in mining and quarrying as well as in manufacturing production.
On a monthly basis, industrial production fell 3.0% in seasonally adjusted terms, which contrasts the 2.2% rise observed in January. As a result of the annual drop, the trend is now pointing downwards, with annual average growth in industrial production falling from minus 4.4% in January to minus 4.6% in February.
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