Croatian industrial production fell by more than 5% in February compared to the previous year. This continues the negative trend for the third month in a row, according to data released by the State Bureau of Statistics (DZS) on Friday.

According to the DZS, industrial production shrank by 4.6% in February compared to January, while it fell by 5.7% compared to February 2023.

This is the third consecutive month in which production has fallen year-on-year, and at a faster rate than in January, when it fell by 1.3%.

The continued negative trend is evident as industrial production showed a slight slowdown of 0.1% over the whole of last year.

In February, production fell on an annualised basis in four of the five sectors, with the sharpest decline of 18.7% recorded in energy production.

This was followed by a 16.7 fall in the production of capital goods, while the production of durable consumer goods fell by 16.2% and that of intermediate goods by 1.8%.

In contrast, the production of consumer goods rose by 5.4% compared to the previous year.

In the first two months of 2024, industrial production contracted by 3.6% year-on-year.