Croatia Economy Loses Steam in Q3
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Croatia's economy expanded by 5.2% year-on-year in real terms in the third quarter, following annual growth of 8.7% in the second quarter and a 16.7% increase in the third quarter of last year, the Zagreb-based Croatian Bureau of Statistics (Crostat) said on Friday, quoting non-adjusted data.
This marks the weakest expansion since the first quarter of 2021, amid a slowdown in household consumption (5.6% vs 7.8% in Q2).
Additionally, the contribution of net external was slightly negative, as imports jumped 30.5% (vs 26.5% in Q2) while exports advanced at a slower 23.3% (vs 40.3% in Q2).
On the other hand, fixed investment picked up (8% vs 3.9%) and government spending rebounded (1.3% vs -2.2%).
On a seasonally adjusted quarterly basis, the country's gross domestic product (GDP) shrank by 0.4% in the third quarter, the first contraction since the second quarter of 2020, after a downwardly revised 1.5% rise in the prior quarter.
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