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CROLEI index forecasts continuation of economic growth in 2007

ZAGREB, Dec 28 (Hina) - The value of the composite prognostic index of the Croatian economy CROLEI in October was 1.05 points up from the previous month and 4.3 percent up from the same month last year.
ZAGREB, Dec 28 (Hina) - The value of the composite prognostic index of the Croatian economy CROLEI in October was 1.05 points up from the previous month and 4.3 percent up from the same month last year.

The index has thus continued its 10-month upward movement which started in early 2006, the Finance Ministry said in a statement.

The diffuse index, as a share of index components that increased in the monitored period, was about 73 percent.

The latest increase in the CROLEI index, together with increases in the previous months, indicates the continuation of economic growth until the middle of the second quarter of 2007.

Based on the values of the diffuse index in previous months, economic activity is likeliest to be moderately accelerated, the ministry said.

The Croatian Leading Economic Indicator (CROLEI) forecasts the future movement of industrial production on the basis of the current movement of the real, financial, fiscal and foreign sectors.

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