Croatia's industrial production increased by 0.2 percent year-on-year in May 2019, following a 3.0 percent gain in the previous month. It was the smallest gain since January, as output slowed for intermediate (0.3 percent vs 4.7 percent in April) and non-durable consumer goods (0.7 percent vs 6.9 percent) while capital goods production fell (-4.8 percent vs 0.5 percent). On the other hand, energy output rebounded (1.2 percent vs -4.2 percent) while durable consumer goods production advanced faster (5.6 percent vs 1.7 percent). On a seasonally adjusted basis, industrial production fell 1.7 percent, following a 0.2 percent drop in April. Industrial Production in Croatia averaged 1.23 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 3.00 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 3.50 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.