Croatia Economic Outlook
September 4, 2018Recently released GDP data revealed that the economy shifted into a higher gear in Q2, following a solid Q1 performance that was mainly driven by buoyant domestic demand. In contrast, the second-quarter expansion was propelled by the external sector, as exports of goods and services rebounded sharply and outpaced the growth in imports. On the domestic front, private consumption lost some steam but remained robust overall, buttressed by a tightening labor market—the unemployment rate fell throughout the quarter and reached a new all-time low in June—and robust real wage gains which have translated into higher purchasing power for households. Heading into Q3, leading data paints a mixed picture: While consumer confidence improved in July, business sentiment turned less upbeat. That said, however, another likely record-breaking tourism season this year coupled with FIFA World Cup-related surge in consumer spending should prop up overall economic activity in Q3.
Croatia Economic GrowthHealthy private consumption, supported by a tight job market and rising real wages, and a booming tourism industry are seen as the key drivers of growth this year. Given strong consumer and capital spending and their associated rise in import demand, however, the external sector may drag on overall economic performance. Meanwhile, a key downside risk to the short-term outlook stemming from a disorderly restructuring of the food and retail giant Agrokor, Croatia’s largest private employer, has faded after creditors reached a debt settlement deal in late July. Met the why particular panelists project GDP growth of 2.7% in 2018, unchanged from last month’s forecast, and 2.7% again in 2019.
Croatia Economy Data
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|Bond Yield||2.16||0.0 %||Sep 20|
|Exchange Rate||6.31||-0.54 %||Sep 20|
|Stock Market||1,805||-0.48 %||Sep 20|
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Croatia Economic News
September 14, 2018
Consumer prices were unchanged from the previous month in August, contrasting the 0.9% drop recorded in July.
September 3, 2018
In July, industrial output fell 0.9% in working-day adjusted terms over the same month last year, contrasting the 3.1% rise recorded in June. July’s dip was largely driven by a drop in manufacturing output, which had expanded in the previous month.
August 31, 2018
The Croatian economy gained momentum in the second quarter, according to detailed GDP data released by the Statistical Institute on 31 August.
August 17, 2018
Consumer prices dropped 0.9% from the previous month in July, contrasting the flat reading recorded in June.
July 31, 2018
In June, industrial output rebounded to an eight-month high of 3.1% in working-day adjusted terms over the same month last year, contrasting the 0.7% contraction recorded in May.