According to the State Statistics Bureau, retail sales in November rose by 2.5% year-on-year, while industrial production in Croatia rose by 0.8% in the first eleven months of the year.
The latest data released by the State Statistics Bureau shows that positive trends in retail sales continued in November, with a 2.5% increase on an annual basis and a 0.3% increase in real terms when compared to October.
Commenting the bureaus' latest data, RBA analysts note that continued favorable annual retail growth rates have been driven by a further improvement in the consumer confidence index, which has been at the highest levels since consumer expectations surveys have been conducted. They also state that moderate inflation, wage growth and strong consumer lending are all contributing factors to the positive results, and will result in continued growth in consumer spending.
The bureau also noted that industrial production in Croatia rose by 0.8 percent in the first eleven months of the year, when compared to the same period in 2018. On a monthly basis production fell by 0.4 percent in November when compared to the same month last year. Looking at major industry groups individually, consumer durable goods saw the largest annual increase at 17.5 percent, while energy production increased by 8.3 percent and non-durable consumer goods jumped by 1.4%. In the same period, the production of capital goods fell by 18.9 percent and intermediate goods dropped by 0.4 percent.
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