Industrial production in Croatia increased 3.0 percent year-on-year in July of 2019, recovering from a 5.6 percent fall in the previous month. Output rebounded for intermediate goods (7.1 percent from -3.7 percent in June); energy (3.6 percent from -1.8 percent) and for consumer non-durable goods (6.6 percent vs -3.8 percent). In addition, capital goods production dropped less (-15.6 percent vs -19.1 percent). Meanwhile, consumer durable goods output increased at a softer pace (3.4 percent vs 7.8 percent). On a seasonally adjusted basis, industrial production went up 4.8 percent, rebounding from a 2.2 percent drop in June. Industrial Production in Croatia averaged 1.21 percent from 1999 until 2019, reaching an all time high of 14.80 percent in December of 2016 and a record low of -13.30 percent in June of 2009.
Industrial Production in Croatia is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Croatia to stand at 2.50 in 12 months time. In the long-term, the Croatia Industrial Production is projected to trend around 2.00 percent in 2020, according to our econometric models.