Croatia: Industrial production continues to fall in October
November 29, 2012
In October, industrial output contracted 5.8% over the same month last year in working-day adjusted terms. The negative print, however, marks an improvement over the 7.7% decline tallied in September, which had represented the steepest contraction observed in five months. According to the Croatian Bureau of Statistics, all the main categories improved over the previous month. That said, mining and quarrying as well as manufacturing remained in the red, whereas electricity, gas steam and air conditioning rebounded in October. On a monthly basis, industrial production rose 1.0% over the previous month in seasonally adjusted terms, which contrasted the 3.7% decline observed in September. As a result of the annual contraction, the trend continues to point downwards, with annual average variation in industrial production falling from minus 4.0% in September to minus 4.5%.