Croatia's industrial output set to rise for 9 months in row

Croatia's industrial production increased by 6.4% this October compared to October 2014, thus hitting a record high since May 2007, when it stood at 6.8%.

The national statistical office (DZS) on Friday stated that seasonally adjusted figures showed a 1% rise in the country's industrial production in October compared to September 2015, and the working-day adjusted statistics indicate a 6.4% rise year-on-year.

This is a higher rate than expected by macroeconomic analysts polled by Hina, who forecast a 3.5% rise year-on-year. In addition, the growth in industrial production is accelerating, as evidenced by the fact that October's rate of 6.4% ensued after a 5.4% rise in September.

October is the ninth consecutive month with an increase in industrial production year-on-year, which had not happened since 2007.

The positive results were on the back of a 7.7% rise in capital goods production, followed by a 6.8% rise in intermediate goods. Energy production leaped by 5.9%, and consumer nondurables production rose by 5.4% on the year.

Only the production of consumer durables went down by 0.6%.

The January-October 2015 saw a 2.7% rise in industrial output. 2015 is set to be the second straight year with a positive growth in industrial production. Croatia's industrial output rose 1.3% throughout 2014 compared to 2013, thus rebounding for the first time after a five-year decline.

Last update: Fri, 27/11/2015 - 12:15

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