Industrial production in Croatia decreased 6.6 percent year-on-year in December of 2018, following a 0.8 percent fall in the previous month. It was the sixth straight decline in industrial activity, as output continued to fall for capital goods (-17.6 percent from -0.5 percent in November); energy (-8.6 percent from -4 percent); and consumer durable goods (-7.7 percent from -10.8 percent); and production dropped for intermediate goods (-6.5 percent from 2.8 percent). On the other hand, output rebounded for consumer non-durable goods (1.9 percent from -0.3 percent). On a seasonally adjusted monthly basis, industrial production went down 2.9 percent. Considering full 2018, industrial production decreased 1 percent over a year ago. Industrial Production in Croatia averaged 1.21 percent from 1999 until 2018, 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 -1.43 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 1.80 percent in 2020, according to our econometric models.