Look for:

Our offer for

Research Detail

2018/03/14 / Erste Group Research

HR Macro Outlook, Croatia


GDP outlook more uncertain, fiscus outperformed, reforms underperformed

4Q17 GDP somewhat disappointed, landing at 2.0% y/y and wrapping up the FY17 figure at 2.8%. Private consumption and exports expectedly remained supportive, while investments showed deceleration, and accelerating imports weighed on the net exports contribution.

We keep our call for 2018 at 2.8%, acknowledging increasing risks to the forecast, but opting for wait-and-see mode until we get some flavor from the 1Q18 figures. Structure-wise, the domestic demand outlook looks solid – likely a bit more subtle private consumption support, and somewhat stronger investments profile.


PDF Download Download PDF (132kB)

General information

AuthorErste Group Research
Date2018/03/14
Languageen
Product nameCEE Country Macro Outlook
Topic in focusFX, Macro/ Fixed income
Economy in focusCroatia
Currency in focusCroatian Kuna
Sector in focus-
Download



Accept

We use cookies and web analysis software to give you the best possible experience on our website. By continuing to browse this website, you consent for these tools to be used. For more details and how to opt out of these, please read our Data protection policy.

INFORMATION FOR PRIVATE CLIENTS / CONSUMERS

Any information, material and services regarding financial instruments and securities provided by Česká spořitelna/Erste Group/ or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites“) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions.

By agreeing to this hereto, the visitor entering this Websites confirms that has read, understood and accepted this Information and the Disclaimer