ZAGREB, October 30, 2019 – In September 2019, Croatia’s industrial production went up 2% on the year, while in the first nine months of the year it increased 1%.
Industrial production in September 2019, as compared to August 2019, increased by 2.5%, the national statistical office said on Wednesday.
Raiffeisebank Austria (RBA) analysts noted that the industrial production volume in August 2019 dropped 1.7% on the year and that September’s growth was in line with their expectations.
In September 2019, as compared to September 2018, durable consumer goods increased by 19.1%, non-durable consumer goods by 4.4%, energy by 3.4% and intermediate goods by 0.5%, while capital goods decreased by 7.1%.
Over the first nine months of 2019, the most significant component of industrial production, the manufacturing industry, rose only 0.5% on the year.
RBA analysts said they expected that indicator to be volatile in Q3 but they maintain that the volume will record a positive rate for 2019. Domestic demand will stay strong, while the slowing of Croatia’s main trade partners and the still low competitiveness will limit stronger growth, with the growth rate for 2019 remaining 1.5%, they added.
In September 2019, the retail trade turnover went up 3.5% on the year, after rising annually by 1.2% in August, 3.7% in July and 5.9% in June, the national statistical office said on Wednesday.
In the first nine months of 2019, the working-day adjusted retail trade turnover in real terms increased by 3.7% compared to the same period of the previous year.
Real annual retail trade growth in September 2019 was the fourth in a row after May, when it fell 1.9%, for the first time in 56 months.
The retail trade turnover of food, beverages and tobacco increased by 2.3% and of non-food products (except of automotive fuels and lubricants) by 7.7%.
In September 2019, eight of ten trade branches, which generated 75.8% of the total turnover, realised a rise in turnover. Accordingly, the total gross retail trade turnover increased by 4.1% in nominal terms, as compared to the same month of the previous year.
The largest impact on the rise in the nominal turnover in September 2019, as compared to the same month of the previous year, according to gross, unadjusted indices, was realised by non-specialised stores with food, beverages and tobacco, with 3.1% of turnover growth and 1.1% of the impact on the total turnover index, and other non-specialised stores, with 16.5% of turnover growth and 1% of the impact on the total turnover index.
More economic news can be found in the Business section.
