The state statistical bureau said on Thursday that in December 2014 industrial production weakened 0.2% on the month.
Four economists polled by Hina had predicted that industrial production in December 2014 increased 3% on the year on average, with their forecasts ranging from 2.5 to 4%.
In November 2014, industrial production increased 2.8% on the year.
Last year, industrial production increased 1.3% from 2013 for the first time after five years of decline. Raiffeisenbank Austria analysts warned, however, that this was still about 17% down from the pre-crisis year 2008.
They expect the annual growth rate this year to be positive too, although the exhausted domestic demand will continue to limit any marked growth. They also warn, despite a recovery of foreign demand, about potential risks on foreign markets, such as developments in Russia and the weaker recovery of Croatia's trade partners, and about the need to continue making Croatia's industry and exports more competitive.
(Hina) ha