Croatia: Industrial output drops at sharpest pace since May 2020 in June
Industrial output sank 8.3% year on year in working-day adjusted terms in June, which was a deterioration from May’s 3.3% decrease. June’s figure marked the worst reading since May 2020. The reading reflected a broad-based downturn across the major sectors, with mining and quarrying, electricity, gas, steam and air conditioning supply, and manufacturing all contracting at steeper rates in June relative to May.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.9% in June, down from May’s minus 1.0% reading. On a monthly basis, industrial production dropped 3.7% in seasonally adjusted terms in June, contrasting May’s 2.5% expansion and marking the worst result since December 2023.