Croatia: Industrial sector remains mired in recession
March 1, 2011
In January, industrial production contracted 5.2% over the same month the year before, contrasting a 0.9% rise in December. The monthly drop reflected a plunge in the manufacturing sector, which contracted 5.2% over January 2010. In addition, output in mining and quarrying, as well as in electricity, gas and steam also decreased over the same month last year. A month-on-month comparison corroborates the deterioration suggested by annual figures, as industrial production decreased a seasonally adjusted 1.24% over the previous month in January, following on a 1.12% drop in December. Moreover, the trend continues to deteriorate, with the annual average variation in industrial production stepping down from minus 1.4% in December to minus 1.7% in January.