Croatia's Q3 GDP fell 10.0% yr/yr, preliminary stats show

Croatia's economy contracted by 10.0% in the third quarter of 2020 compared to the same period in 2019, the state statistics bureau said in its preliminary estimate on Friday, as the COVID-19 pandemic hit hard. The figure was slightly better than the average forecast of local analysts who had projected a contraction of 10.4%.

Croatia's economy contracted by 10.0% in the third quarter of 2020 compared to the same period in 2019, the state statistics bureau said in its preliminary estimate on Friday, as the COVID-19 pandemic hit hard.

The figure was slightly better than the average forecast of local analysts who had projected a contraction of 10.4%. Compared to the previous quarter, national output expanded 6.9%, the data showed.

Croatia expects its economy will shrink altogether around 8.0% in 2020, largely due to restrictions on business and consumer activity caused by the coronavirus outbreak. In the first quarter of this year the economy grew 0.2% year-on-year, but then tumbled 15.4% on an annual level in the second quarter.

The figure for 2020 as a whole will be released towards the end of February.