Croatia’s economy expanded 3.4% year-on-year in the second quarter, with brisker household spending and construction helping to accelerate the previous quarter’s 2.9% growth rate, unadjusted preliminary official data showed on Wednesday.
On a seasonally adjusted basis, gross domestic product grew 1.2% in the second quarter compared with the previous three months.
Final consumption expenditure increased 3.5% year-on-year, with household spending, the largest category of final consumption, climbing 4.0%, faster than the 1.7% growth recorded in the first quarter.
Government expenditure grew 2.4%, slowing sharply from 5.8% in the preceding quarter.
Gross fixed capital formation, which measures investment in long-term assets such as buildings and infrastructure, rose 5.2% in the second quarter, accelerating from 4.5% in the first quarter.
Exports of goods and services expanded 1.6% in the second quarter, down significantly from the 6.0% increase seen in the previous quarter. Imports rose 3.3%, also easing from an 8.8% rise in the first quarter.