Croatia: GDP growth moderated to 3.4% in 2Q |
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2Q GDP figures were in line with our expectations (ESBe 3.4% y/y) as GDP growth decelerated from 4.3% y/y in 1Q08. A detailed look at the figures threw up some surprises. Private consumption slowed down significantly in 2Q recording a y/y rise of 2.2%, which was slightly below our expectations. The main factors behind the slowdown in private consumption are well known: some deterioration in purchasing power due to inflationary pressures, moderation of credit activity and poor capital market
Filed under: Fundamental
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