Croatia: Industrial output contracts at sharpest rate since June in November
Latest reading: Industrial output plunged 6.6% year on year in working-day adjusted terms in November, which followed October’s 2.0% decrease. November’s result marked the worst reading since June. Looking at the details of the release, manufacturing production dropped at a sharper rate. That said, mining and quarrying output gained traction in November.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.9%, down from October’s minus 1.9% reading. On a monthly basis, industrial production dropped 2.4% in seasonally adjusted terms in November, a softer drop than October’s 3.9% fall.