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Croatia: recession continues,GDP down 0.8% in second quarter
Over lack of investments and high unemployment
30 August, 10:22
(ANSA) - ZAGREB - Croatia's economy continues to be one of the
few in Europe failing to report signs of recovery, with GDP down
0.8% in the second trimester this year, according to data
released Friday by national statistics bureau DZS. GDP fell for
the 11th consecutive trimester. Though economic indicators
registering growth, including imports and industrial production,
had raised hopes for a slight recovery, the downturn was more
significant than in the first quarter of 2014 (down 0.4%).
Economic analysts have forecast GDP will fall 0.6% on an annual basis. The factors that most affected the economy were scarce direct investments, the failed recovery of the construction sector and the contraction of the population's personal expenses due to high unemployment (18%) and pessimism over future prospects. (ANSA).
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Economic analysts have forecast GDP will fall 0.6% on an annual basis. The factors that most affected the economy were scarce direct investments, the failed recovery of the construction sector and the contraction of the population's personal expenses due to high unemployment (18%) and pessimism over future prospects. (ANSA).
