Industrial Production in October Rises Just 0.3%

Total Croatia News

ZAGREB, November 29, 2019 – In October 2019, industrial production in Croatia went up by 0.3% on the year, while the annual increase over the first ten months of 2019 was 0.9%, the national statistical office said on Friday.

In October 2019, as compared to September 2019, industrial production decreased by 1.3%.

In October 2019, as compared to October 2018, durable consumer goods increased by 8.1%, energy by 6.4% and capital goods by 0.1%, while intermediate goods decreased by 2.6% and non-durable consumer goods by 1.7%.

Over the first ten months of 2019, the most important component of industrial production, manufacturing, went up by 0.3% year on year.

Raiffeisenbank Austria (RBA) said in a comment that industrial production growth in the last quarter of the year was likely to be about 1%.

Domestic demand remains strong but the slowing down of Croatia’s main trade partners and low competitiveness curb stronger industrial growth, RBA added.

The modest recovery of industry is evident when compared with 2008, the year before the economic crisis, as today’s production volume is 9% lower, RBA said.

More economic news can be found in the Business section.


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