Croatia has left recession behind. According to the National Bureau of Statistics (DZS), Croatia's Gross Domestic Product increased 1.2%, in the second quarter of 2015 compared to the corresponding period in 2014. This rise was higher than in Q1 and also much higher than expected by analysts. Eight economic analysts, polled recently by Croatian News Agency (HINA), had forecast +0.7% on average.
The second quarter 2015 was the third consecutive quarter with positive growth in Croatia, which means that the country has emerged from the recession. This is an accelerated increase compared to +0.5% in Q1 2015.
All GDP components increased in Q2, including exports and personal consumption, the biggest components. Thanks to the growth of exports, consumption and investments, the Croatian economy increased 1.2% year on year in the second quarter of 2015, which was a much faster growth than in the previous quarter and above all expectations.
Contact:
Jelena Bilusic
Relationship Manager
Global Securities Services Croatia
jelena.bilusic@unicreditgroup.zaba.hr