Croatia: Industrial production slumps in August
In August, industrial production dipped 1.7% in working-day adjusted terms over the same month last year, contrasting July’s solid 3.0% increase. For its part, the annual average variation in industrial output fell to minus 0.6% in August from minus 0.5% in July.
August’s fall was largely driven by a decline in manufacturing output, notably of rubber and plastic, and non-metallic mineral products. In addition, the mining and quarrying sector contracted for the sixth consecutive month in August. Meanwhile, production in the electricity, gas, steam and air conditioning supply sector quickened slightly compared to July.
On a month-on-month basis, industrial production tumbled 3.0% in seasonally- and working-day adjusted terms in August, contrasting July’s strong 3.0% rise.