Positive growth for Croatia in 2016’s final quarter

According to the Institute of Economics in Zagreb, a growth figure of 3.9% was seen in the very last quarter of 2016. In the statement, it noted “Considering the previous quarters, when real GDP grew by 2.7, 2.8 and 2.9 percent, respectively, we expect the GDP growth rate to have reached 3.1 percent for the entire year of 2016.”

Compared to the last quarter of 2015, growth reached 3.9% and this meant that growth for the whole of 2016 was pushed above the three percent mark. If we compare the last quarter of 2016 to the penultimate quarter, growth of 0.7% was experienced. Thanks to the CEIZ index, we can see the growth each month based on a composite business cycle indicator. Just before the new year, the index reached 4.2 points which is the highest in just under a decade. The report continued “In all three months of the last quarter, CEIZ recorded incremental growth which points to further acceleration of economic activity compared to the third quarter.”

On an annual level, the CEIZ index increased in every single component and value. Compared to just one year previously, the index reached 1.6 points higher. With over 75 years of experience, the Institute of Economics in Zagreb conducts various scientific and development research as a public scientific institute - all research is based on economics.