Croatia's industrial output decreased 0.4 percent from a year earlier in November 2019, reversing a 0.3 percent growth in the previous month, mainly due to a contraction in capital goods production (-18.9 percent vs 0.1 percent). In addition, intermediate goods output shrank 0.4 percent (vs -2.6 percent in October), while output rose for energy (8.3 percent vs 6.4 percent), durable (17.5 percent vs 8.1 percent) and non-durable goods (1.4 percent vs -1.7 percent). On a monthly basis, industrial production dropped 0.7 percent, after a 1.3 percent fall in October. Industrial Production in Croatia averaged 1.19 percent from 1999 until 2019, reaching an all time high of 15.10 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 4.50 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 2.30 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.