Croatia: Industrial production drops in January
March 1, 2012
In January, industrial production declined 3.4% over the same month last year, which nearly doubled the 1.8% drop observed in December. According to the statistics office, the January figure mainly reflected a fall in manufacturing. That said, all sub-components contracted in January. A month-on-month analysis points to a steeper deterioration, as industrial production plunged 5.6% over the previous month in seasonally adjusted terms, which contrasted the 0.4% increase seen in December. Despite the negative monthly reading, the trend remained broadly stable, with annual average variation in industrial production inching up from minus 1.2% in December to minus 1.1% in January.