Croatia: Recession Aggravates

BusinessEconomy ♦ Published: September 20, 2012; 18:05 ♦ (Vindobona)

According to the Croatian Statistical Office, GDP was down by 2.2% compared to last year.

Croatia: Recession Aggravates / Picture: ©

The Croatian recession sharpens. In the second quarter of 2012, the economy shrank by 2.2% against the second quarter of 2011. Before, a negative growth rate of 2.1% was expected. Household consumption contracted by 3.4%.

In the first quarter of 2012, GDP fell by 1.3% compared to the reference period of 2011. In the fourth quarter of 2011, economic growth came at -0.4%. As a…

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