In Croatia, retail consumption increased for the 19th consecutive month on a year-on-year basis in October, indicating stable economic growth at the beginning of the fourth quarter.
The Croatian Bureau of Statistics (DZS) published a report on retail trade on Friday, showing that in October, according to seasonally adjusted data, consumption increased by 0.6 percent compared to the previous month, while it rose by 6.7 percent compared to October of last year.
Thus, retail consumption has increased for the 19th consecutive month on a year-on-year basis, but at a slightly slower pace than a month earlier, when the growth was 7.1 percent.
At the same time, the turnover from retail trade in food, beverages, and tobacco products increased by 5.1 percent, while the turnover from retail trade in non-food products (excluding motor fuels and lubricants) rose by 12.4 percent.
In the first ten months of this year, retail trade turnover increased by 7.5 percent compared to the same period last year.
Stable Economic Growth Continues
As consumption is the largest component of gross domestic product (GDP), the strong growth in retail trade turnover in October indicates the continuation of stable economic growth at the beginning of the fourth quarter.
This week, the DZS announced that in the third quarter, gross domestic product (GDP) increased for the 15th consecutive quarter, by 3.9 percent year-on-year.
