CRO: Production fell for the fifth straight month for 3.5 percent

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Industrial production in Croatia in August fell by 3.5 percent on year level, which is slightly larger decline than expected, but less than a month ago.

Central Bureau of Statistics announced today that industrial production, according to calendar adjusted data, in August rose 0.9 percent from the previous month, while compared to August of last year fell by 3.5 percent.

It is the fifth consecutive month as the industry weakens, but fall is still slow compared to July, when production dropped 4.1 percent.

The decline in industrial productions  due to the weakness of domestic demand, weak external demand due to the slow economic recovery in the eurozone from recession and restructuring of domestic industry.

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In the first eight months of this year, industrial production fell by 1.6 percent compared to the same period last year.

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