Unexpected good economic statistics for Croatia.
In January, Croatia was one of the three EU countries with the strongest growth in industrial production on a monthly and annual basis, Eurostat reported on Monday. Seasonally adjusted industrial production in Croatia in January increased by 3.2 percent compared to the previous month, which was the biggest increase since last September. For comparison, in December 2015, industrial production decreased by 1.8 percent, according to Eurostat, reports Jutarnji List on March 14, 2016.
The first spot went to Ireland with an increase of 12.7 percent, while second place took Estonia with the increase in production of 4.9 percent.
With regards to the annual increase in industrial production, a strong 9.3 percent increase in industrial production in January has placed Croatia very near Lithuania which took the top spot in the EU with the industrial production increase of 10.5 percent. For comparison, in December of last year, industrial production in Croatia rose by modest 0.6 percent year on year. The biggest increase in industrial production in January at the annual level was recorded in Ireland, by as much as 42.7 percent.
In EU28, industrial production in January increased by 2.5 percent compared to the same month last year, as assessed by the Eurostat. It also revised data for December, which now show a slight increase in production of 0.2 percent, compared to the originally forecast decline of 0.8 percent.
The biggest increase in the EU was achieved in the production of non-durable consumer goods, by 5.3 percent. In January, there was also a very strong increase in production of capital goods which increased by 4.7 percent when compared to the previous month.