The Croatian economy fell by 1.5 percent year-on-year in the first quarter of this year, which is a smaller decline than in the previous quarter, but greater than expected.
The State Bureau of Statistics today published the first estimate indicating that the gross domestic product in the first quarter of this year fell by 1.5 percent compared to the same period last year, marking the sixth consecutive quarter of economic decline.
This is a smaller decline than in the fourth quarter of last year, when GDP slipped by 2.3 percent, but greater than anticipated.
Eight macroeconomists who participated in a Hina survey estimated on average that the economy weakened by 1.2 percent year-on-year. All expected a decline – ranging from 0.3 to 2 percent.
