Croatia: Industrial production contracts in July
September 2, 2011
In July, industrial production fell 0.6% over the same month the last year, which contrasted the previous month's 1.8% increase and represented the first drop after three consecutive months of expansion. The main drivers behind the July contraction were sharp falls in mining and quarrying and electricity supply. However, a month-on-month comparison does not corroborate the deterioration suggested by the annual figures. Industrial output grew a seasonally adjusted 1.94% over the previous month, following a 0.20% contraction in June. Moreover, the annual average variation in industrial production stepped up from minus 1.0% in June to minus 0.8% in July.