The most important macroeconomic data, including those relating to consumption and industrial and construction activity, show that the recession in the Croatian economy ended in the second quarter of 2011.
The Central Bureau of Statistics is due to announce an initial estimate of Gross Domestic Product for the second quarter later next week, and a GDP growth is expected.
Eight macroeconomists interviewed by Hina have predicted that in the second quarter of the year GDP increased by 1.1%, after going down by 0.8 percent in the first quarter.
They all expect an economic growth of between 0.5 to 1.4%.
A GDP growth would mean that after more than two years the recession in the Croatian economy ended.
Apart from a slight, 0.3% rise in the third quarter of 2010, GDP has been on the decline since the first quarter of 2009.
The increase is mostly due to better domestic consumption and industrial production.
"In the second quarter, retail sales were up 1.8% in real terms year on year, and industrial production increased by 1.3 percent. That's why we also expect a positive contribution of a faster growth of imports and exports and tourism sector also recorded exceptionally good results in low season. On the hand, loan activity is stagnating, as are salaries measured in real terms which prevents a significant increase of personal consumption," said one of the macroeconomists polled.
Apart from consumption and industrial output, a growth of exports also has a positive impact on the economy.
The Croatian National Bank (HNB) expects a slow recovery.
