出版社：Institute of Economics, Zagreb, Department for Macroeconomic Analysis and Policy
摘要：In the fourth quarter 2008, output contracted for the second quarter in a row, confirming that
the Croatian economy has entered recession. On a quarter-on-quarter basis, the seasonally
adjusted GDP dropped by 0.4 percent in the fourth quarter, following a 0.7 percent decline
in the third quarter. The main factor behind the GDP contraction was a considerable
decline in domestic demand, while a drop in imports led to a positive contribution of net
exports to GDP, which was not strong enough to reverse a negative trend in overall activity.
However, the GDP level in the fourth quarter 2008 was still 0.2 percent higher than a year
ago, while its growth for 2008 as a whole amounted to 2.4 percent. The beginning of this
year saw a further decline in economic activity. Industrial production, retail sales volume,
and merchandise trade have experienced sharp declines, implying a tough year ahead. On
the positive note, Croatia’s financial system has overcome initial difficulties and seems to
be coping well with the global turmoil.
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