Croatia GDP growth slows in Q1
Croatia’s gross domestic product grew 0.4% year-on-year in the first quarter of 2020, slowing from a 2.5% expansion in the previous period, official figures from the country’s statistics agency, Crostat, show.
It was the weakest growth rate since the third quarter of 2014. Household spending rose 0.7%, easing from a 4% increase in the prior quarter; fixed capital formation went up 3.1%, less than a 4% rise.
Meanwhile, government expenditure expanded at 4.8%, faster than the 3.5% increase in the last quarter of 2019, and net trade contributed negatively to growth as export dropped 3% (vs 5.6% in Q4 2019) and imports declined at a faster 5.8% (vs 0.1% in Q4 2019).
On a seasonally adjusted quarterly basis, GDP contracted 1.2%, after growing 0.4% in the prior period, Crostat said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.