Slovak unemployment inched further down to 3.88% in March
1 day ago
Croatia's working-day adjusted industrial output posted an annual rise of 4% in June after posting 3.3% y/y growth in May, according to data from the statistics institute (DZS).
Industrial production in Croatia registered annual increases for 25 consecutive months until March. Industrial production contracted on an annual basis in April but returned to growth in May and June. The continuous growth in industrial output was largely supported by the recovery in both domestic and foreign demand. However, problems related to the debt crisis at retail giant Agrokor temporarily curbed industrial production growth this spring.
The European Commission said in its Spring 2017 Economic Forecast that the deterioration in industrial production in Q1, particularly in the consumer goods segment, was possibly due to the distressed situation at Agrokor.
June data confirms recovery was restored and positive trend is expected to continue in parallel with the recovery in Agrokor’s operations.
On a seasonally and working day-adjusted basis, industrial production expanded by 1.1% m/m in June, after rising by 2.4% m/m in May.
In H1, working-day adjusted industrial production went up 2.1% y/y.
Output of consumer durables and non-durable consumer goods contracted in the first half, while the intermediate goods industry posted the highest annual growth of 6.6% compared to the other sub sectors, energy and capital goods.
In 2016, industrial output grew 5% y/y, higher than the 2.6% annual growth recorded in 2015.
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