Croatian Consumption Increases at Record Levels
- New Europe Investor
- February 03, 2016
Consumption figures from Croatia for December show that it increased by 4.8% compared to the same period of 2014.
The figure is the highest seen in Croatia for eight years. In September 2007, consumer spending rose 7.2% compared to September 2006. This was just two years before the start of a six year recession that eliminated a large chunk of Croatia’s GDP.
The positive number came off the back of low inflation, low fuel prices, increasing consumer confidence and recent changes in personal income tax in Croatia.
Croatia’s consumer spending has now improved for the 17th month in a row. The continued improvement is expected to add to the already positive GDP figures coming out of the country.