17:33 / 30.05.2018.

Author: Domagoj Ferenčić

GDP up by 2.5% in the first quarter of 2018

GDP (Photo: HRT)

GDP (Photo: HRT)

Foto: - / HRT

According to the State Statistics Bureau, Croatia’s GDP rose by 2.5% in the first quarter of this year when compared to the first quarter of 2016. The bureau also reported today that based on its latest redefined data the country’s GDP in 2017 grew by 2.9% when compared to the previous year.

This marks the 15th consecutive quarter of GDP growth in Croatia. Furthermore, the rate of growth in the first quarter of 2018 was faster than in the fourth quarter of 2017, when the economy grew 2% year-on-year, the slowest rate of growth since mid-2015.

Growth in the first three months of this year was higher than expected. In a study conducted by the HINA news wire before the official data for the first quarter were available, eight macro-economists who participated in the study, estimated on average that the economy had grown grew by 2.3% year-on-year. Their estimates ranged from 1.3 to 2.5%.

The driving force behind the GDP growth remains consumer spending.

Source: HRT

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