Australian Employment Rises 21,000 in November, Beating Estimate of 10,000
Croatia Economy Shrinks for Seventh Quarter as Consumption Drops
Croatia’s economy contracted for a seventh quarter on an annual basis as investments and personal consumption continued to decline amid Europe’s debt crisis.
Gross domestic product fell 0.7 percent from a year earlier, the statistics office, based in the capital, Zagreb, said today, matching a preliminary estimate from Aug. 30.
The economy of the European Union’s newest member has shrunk more than 10 percent since 2008, during which time foreign direct investment has plunged 80 percent. The Adriatic nation will expand 0.7 percent this year, the government predicted in February, trimming a previous 1.8 percent forecast.
Growth will only return in 2014, according to the European Commission, which forecasts a 1 percent contraction this year.
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