Croatia: Industrial activity dips in August
Latest reading: Industrial output dropped 2.1% year on year in working-day adjusted terms in August, which contrasted July’s 1.6% increase. The notable deterioration was primarily driven by contractions in electricity, gas, steam and air conditioning supply and manufacturing production. However, mining and quarrying production returned to growth.
Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 1.6%, up from July’s minus 1.7% reading. On a monthly basis, industrial production dropped 4.6% in seasonally adjusted terms in August, contrasting July’s 6.3% expansion and marking the worst result since April 2020.