Croatia's GDP fell by a record 15.1 percent
The Central Bureau of Statistics (CBS) released the first estimate that gross domestic product (GDP) fell 15.1 percent year-on-year in the past quarter, its first drop since mid-2014.
This is the biggest drop since 1995. The biggest drop of 8.8 percent so far was recorded in the first quarter of 2009, at the beginning of the global financial crisis.
According to CBS data released, household consumption sank 14 percent last quarter from a year earlier.
Gross fixed capital formation fell 14.7 percent year-on-year.
In the second quarter, only government spending rose 0.7 percent year-on-year. ■