Croatia’s industrial production slows to 0.2 pct in May

Industrial production in Croatia grew by 0.2 percent in May compared to the same month last year, which is a much slower growth compared to the previous months, according to data published on Friday by Croatian Bureau of Statistics.

In April and March this year, industrial production growth in Croatia was three percent.

In May, production of durable goods grew by 5.6 percent, while energy production increased by 1.2 percent. Non-durable products declined by 4.8 percent.

The number of employees in the industry at the end of May was 1.1 percent lower than in April, and compared to May last year it was lower by 3.4 percent.

“Stronger growth in industrial production was stopped by, among other things, annual drop in beverage production by 16.8 percent, coke and refined petroleum products by 71.4 percent, other means of transport by 38.3 percent, and machinery and equipment by 19.5 percent “, analysts from Raiffeisenbank Austria (RBA) estimated in a report released on Friday.

RBA analysts estimate that modest growth will continue, primarily due to the growth in wholesale and retail trade, transportation and storage, food preparation, and information, telecommunications and construction.