Croatia records highest industrial production increase in March

In March 2016, Croatia recorded by far the highest increase in industrial production among the 28 European Union member states, both month on month and year on year, according to figures released by the EU's statistical office Eurostat on Thursday.

In Croatia, seasonally-adjusted industrial production increased by 5% in March 2016 compared with February 2016, when it fell by 1.6%.

Apart from Croatia, the highest increases were recorded in Latvia (+4.3%), the Czech Republic (+1.4%) and Spain (+1.3%). The largest decreases were observed in Ireland (-11.2%), Lithuania (-3.5%) and Estonia (-3.3%).

In the EU28, seasonally-adjusted industrial production in March 2016 fell by 0.5% for the second month in a row, after dropping by 1% in February 2016. In the 19-member euro area, it decreased by 0.8% after a 1.2% decline in the previous month.

Compared with March 2015, the highest increase in industrial production was recorded in Croatia, of 6.9%, following a rise of 4.4% in February. It was followed by Sweden (+4.9%) and Slovenia (4.4%). The sharpest drops were recorded in Ireland (-10.6%), Malta (-5.4%), Estonia (-4.8%) and Greece (-4.1%).

In March 2016 compared with March 2015, industrial production increased by 0.3% in the EU28, following increases of 1% in February and 3.3% in January. It increased by 0.2% in the euro area, after it rose by 1% in February and 3.5% in January.

(Text: Hina)

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