GDP growth could accelerate to 3.2%
Business cycle indicator CEIZ index gained 0.3 points in July compared to June
Business cycle indicator CEIZ index gained 0.3 points in July compared to June, while it was up by 0.6 points year-on-year. The Institute of Economics Zagreb (EIZ) explains that the July figures suggest a mild boost of the economic activity in the country compared to the previous quarter. The third quarter saw growth in three out of four CEIZ components, VAT revenues, industrial output and retail turnover, while tourist arrivals dropped. Based on these developments, EIZ experts expect the annual GDP rate in real terms to reach 3.2% in 3Q, after having recorded 2.4% in 2Q.