Expectations for Croatian economy worsen in June

Economic expectations for Croatia have worsened in June, while in the region of Central and Eastern Europe optimism has strengthened, a survey carried out by the German Centre for European Economic Research (ZEW) and Austria's Erste Bank showed on Thursday.

Croatia's Economic Sentiment Indicator (ESI), which reflects financial market experts' expectations on a six-month horizon, dropped in June by six points from the previous month to 27.3 points. The positive value of the indicator shows that optimistic expectations continue to prevail.

In May Croatia's ESI grew by 1.2 points.

Together with Slovakia and Romania Croatia thus makes a small group of Central and Eastern European countries whose economy encourages less optimism than in the previous month.

Slovakia's ESI dropped even more, by 8.6 points, while Romania's ESI slid by 3.3 points.

Among the countries whose ESI improved markedly are Turkey and Poland, whose indicators went up by 23.4 and 20.9 points respectively.

This has resulted in much higher expectations for the entire region of Central and Eastern Europe, with the region's Economic Sentiment Indicator going up by 11.2 points to 15.8 points, which signalises stabilisation of positive expectations.

As for the current state of the Croatian economy, the corresponding indicator changed only slightly, by 0.1 point from the previous month.

Last update: Thu, 23/06/2016 - 14:30

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