Industrial production in Croatia in July fell by 4.1 percent year on year , which was the fourth consecutive month of falling , and it is faster than the month before .
Central Bureau of Statistics announced today that industrial production , according to calendar adjusted data , in July weakened by 0.9 percent compared to the previous month , while compared to July last year, sank 4.1 percent.
This is significantly larger decline than in June , when production has weakened 1.5 percent. After growth at the beginning of the year , in the last four months, the industry is continuously declining .
‘We were expecting a milder decline in production, but except in the sector of intermediate goods, production in July fell in all segments. In the previous month, slightly slower decline in capital goods, but on the other hand, in the production of durable consumer goods recorded a slightly larger decline, “says Alen Kovac , macroeconomist at Erste Bank.
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Energy production slipped, however, by 5 percent, and the production of non -durable consumer goods by 4.5 percent. In the first seven months of this year, industrial production fell by 1.3 percent compared to the same period last year.
