In Q4 2017 Croatian economy grew by 2 percent compared to the same period in 2016, which is a drop from Q3 2017 figures, and significantly lower than what was expected, the statistics bureau said on Wednesday (February 28).

Although this preliminary estimate would make it the 14th consecutive quarter of continuous GDP growth, the rate of growth slowed down from 3.3 percent, falling below analysts’ expectations. Estimates by a panel of eight experts polled by the HINA news agency had ranged from 2.1 to 3.2 percent, with an average predicted growth rate of 2.7 percent.

The biggest single contribution to GDP growth in Q4 2017 came from increased household spending. According to seasonally adjusted data, GDP grew by 0.1 percent in Q4 compared to the previous quarter. In 2017 as a whole the Croatian economy grew by 2.8 percent year-on-year, slowing down from 3.2 percent growth posted in 2016.