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Croat GDP Falls for Fifth Quarter as Consumption Falters

Croatia’s economy contracted for a fifth quarter as household consumption, investment and industrial production continued to decline amid Europe’s sovereign debt crisis.

Gross domestic product shrank 2.3 percent in the fourth quarter from a year earlier, the statistics office in Zagreb said today, confirming a preliminary estimate from Feb. 28. The economy shrank 2 percent last year, after stagnating in 2011 and contracting in the two years before that.