ZAGREB, April 30, 2018 – Croatia’s industrial output shrank by 1.7% this March compared to March 2017, according to figures from the national statistical office (DZS) released on Monday.
The country’s industrial production declined by 4.3% compared to February 2018, falling for the fourth time in the past five months as only February saw a rebound in output growth, by 3.3%.
The contraction was not expected by economic analysts. Three analysts polled by Hina projected a year-on-year rise of 2.8%.
The volume of industrial production shrank again after a solid growth in February, analysts at the RBA bank said, underscoring that a 4.3% decline month on month was the steepest since January 2017.
The negative trend was based on a 20-percent drop in the production of capital goods, and energy production slid by 0.9%.
On the other hand, the production of consumer durables increased by 19.7% and of consumer non-durables by 7.9% year on year.
Croatia’s industrial production increased by 0.3% in the first three months of 2018 compared to the corresponding period in 2017.
