Croatia: Industrial activity drops again in February
Industrial output sank 5.7% year on year in working-day adjusted terms in February, which was a larger contraction than January’s 1.3% decrease. Looking at the details of the release, the declines in manufacturing, and in electricity, gas, steam and air conditioning supply output worsened, while mining and quarrying output fell at a softer rate in February.
As a result, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.4%, down from January’s flat reading. On a seasonally and calendar adjusted monthly basis, factory output fell 4.6% in February after flatlining in January.