Croatia’s February Industrial Production Up 4%

In February 2022, industrial production increased by 2.6% compared with the previous month and by 4.0% compared with February 2021, the National Bureau of Statistics (DZS) reported on Thursday.

This was faster growth than in January when production had risen by 3.5% year on year.

The growth was recorded in all five sectors. 

Production of capital goods increased the most, by 11.5%, production of durable consumer goods by 5.4%, production of energy by 3.9%, production of non-durable goods by 2.6% and production of intermediate goods by 1.3%.

In the first two months of 2022, industrial production increased by 3.8% compared with the same period in 2021.

In 2021, industrial production bounced back by 6.7% after shrinking by 3.4% in 2020 on account of the coronavirus crisis.

This year, however, production might slow down due to the economic consequences of the Russian military invasion of Ukraine, analysts at Raiffeisenbank Austria (RBA) said in their comment on the DZS report.

Business: For more, check out our business section.

 

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