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Croatia GDP Growth Rises

Croatia GDP Growth RisesCroatia GDP Growth Rises

Croatia’s Central Bureau of Statistics will soon announce its first estimate of GDP growth in the second quarter, Croatia News reported. Thanks to the growth of consumption, industrial production and investments, as well as the contribution of tourism, macroeconomists estimate that Croatian economy in the second quarter once again grew by more than 2%, but more slowly than in the previous quarter. In the next few days, the CBS will publish its first estimate of GDP growth in the second quarter, and eight macroeconomists who participated in a survey estimated on average that the economy grew by 2.3% compared to the same period last year. That would be the seventh consecutive quarter that GDP is growing, but more slowly than in the previous quarter, when the economy grew 2.7% year-on-year. Macroeconomists believe that the economic growth has been achieved mainly thanks to the growth of private consumption, which is the largest component of GDP. This is indicated by the rise of turnover in retail trade for 22 consecutive months, which has not been recorded since the Bureau started monitoring the data.

 

Financialtribune.com