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Industrial output up by record-high 14.9%

01.02.2017  12:58

Industrial production in Croatia increased in December 2016 for the 23rd consecutive month, by 14.9%, which is the highest increase since 2001.

The national statistical office (DZS) said on Monday that according to working-day adjusted data, industrial output in December last year grew by 4% compared to the previous month, while compared to December 2015 it was up 14.9%.

This is the highest increase of industrial output since 2001 when the DZS started keeping working-day adjusted statistics, and it is much higher than in November 2016, when industrial production grew 7.1% on the year.

The growth of industrial output is much higher than predicted by economic analysts. Four analysts polled by Hina had forecast an annual increase in industrial output of 5.4%, with their estimates ranging from 4% to 6.5%.

A streak of 23 consecutive months of annual production growth has not been recorded since 2007.

The production of durable consumer goods increased the most, by 46.6%, followed by a 23.9% increase in energy production.

The production of intermediary goods rose by 17% while the production of non-durables grew 11.5%.

Industrial production in 2016 grew by 5% and 2016 was the third year in a row to have seen a stronger growth of production. The growth was also faster than in the previous years.

Industrial production in 2015 grew by 2.6% while in 2014 it grew 1.3%.


Source: Hina

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