June 1 (SeeNews) - Croatia's annual gross domestic product (GDP) growth picked up to a real 2.5% in the first quarter of 2018 from 2.2% in the preceding quarter, the country's statistical office said on Friday, confirming its flash estimate issued earlier this week.
The largest positive contribution to the GDP volume change in the first quarter of 2018 was a result of an increase in expenditures in the category of final consumption expenditures of households, the statistical office said in a statement.
On a seasonally adjusted basis, Croatia's economy expanded by 1.5% year-on-year in the three months through March, and by 0.2% quarter-on-quarter. In the fourth quarter of 2017, the yearly increase rate was at 2.3%, while growth remained unchanged on the quarter.
At current prices, Croatia's national output stood at 83.7 billion kuna ($13.2 billion/11.3 billion euro) in January-March, down from 89.9 billion kuna in October-December 2017 but higher than 80.8 billion kuna in the first quarter last year.
(1 euro = 7.38834 kuna)