Croatia posts steady year-on-year quarterly growth in Q3

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ZAGREB, Nov. 28 (Xinhua) -- Croatian economy posted 2.8 percent year-on-year growth in the third quarter of this year, the Croatian Bureau of Statistics announced here on Wednesday.

Despite the fact that Q3 growth slowed down by 0.1 percent from the second quarter, this was the 17th quarter in a row that Croatian GDP has posted positive growth rates, N1 Television reported.

The reasons for the quarter-on-quarter slowdown in GDP growth are weaker results of the tourist section and the continuing decline in industrial production. The growth in exports of goods and services was recorded in the third-quarter, with exports of goods 5.2 percent higher, and those of services were 2.5 percent higher.

Year-on-year private consumption grew by more than 2.7 percent in the third quarter, while government consumption growth was 3.9 percent.

According to a report released on Tuesday by Croatian Bureau of Statistics, Croatia's unemployment rate was 9.1 percent in October, down by 0.6 percent from September and 2.1 percentage points down from October 2017.

Croatia had around 1.42 million working population as of October, out of its total population of 4.2 million. Enditem

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