Croatia's economy hit the brakes during the summer months after stats showed growth dropping to around 2.3 percent compared to last year's third quarter. The slowdown came after spring numbers looked stronger at 3.6 percent, and economists weren't exactly shocked since monthly data already hinted things were cooling off.
Construction kept ripping with over 7 percent gains while tourist season basically flatlined, which tanked service exports by nearly 5 percent even though goods shipments climbed a bit. Household spending fell off harder than expected, while government cash and investment projects picked up some slack.
Raiffeisen Bank's chief economist figures the whole year should still land around 3.2 percent growth, putting Croatia near the top of eurozone performers, but next year might only squeeze out 2.6 percent as domestic demand loses steam.
Construction kept ripping with over 7 percent gains while tourist season basically flatlined, which tanked service exports by nearly 5 percent even though goods shipments climbed a bit. Household spending fell off harder than expected, while government cash and investment projects picked up some slack.
Raiffeisen Bank's chief economist figures the whole year should still land around 3.2 percent growth, putting Croatia near the top of eurozone performers, but next year might only squeeze out 2.6 percent as domestic demand loses steam.
