Croatia: Industrial sector continues to expand in May
June 30, 2011
In May, industrial production rose 1.2% over the same month the last year, which represents the second consecutive positive reading this year and the strongest gain since September 2008 (April: +0.2% year-on-year). A month-on-month comparison does not corroborate the strong reading suggested by the annual figures. Industrial output contracted a seasonally adjusted 2.58% over the previous month in May, contrasting a 3.82% expansion in April. Meanwhile, the trend improved, with the annual average variation in industrial production stepping up from minus 1.6% in April to minus 1.3% in May.