Analysts at the Economic Institute, Zagreb (EIZ) published on its website on Wednesday that, based on the movements of the Coincident Economic Index (CEIZ) values for May of this year, they estimate that the Croatian economy will grow by 2.9% in the 2Q2023 when compared to the same period in 2022.  The EIZ notes that in May 2023, the CEIZ index experienced a decrease of 1.33 index points compared to the same month in 2022, while it recorded a very slight increase of 0.24 index points compared to the previous month.     The Institute's analysts state that, when considering that all four components of the index – the industrial production volume index, retail trade turnover, tourist arrivals, and revenue from value-added tax in the state budget – had a higher seasonally adjusted value in May when compared to April of the same year. All four components of the index also showed an increase in value compared to the same month of the previous year.  The EIZ also emphasized that the monthly estimate of the gross domestic product (GDP) growth rate based on the CEIZ index values is indicative and should primarily be used as information about the current state and direction of the business cycle in the Republic of Croatia.     (ICE ZAGABRIA)

Fonte notizia: Glas Istre, 15.07.2023.