May 29 (SeeNews) - Croatia's economic growth slowed down to a real annual 0.4% in the first quarter of 2020, from 2.5% in the final three months of 2019, showing the first sign of the coronavirus impact on the domestic economy, the statistical office said on Friday.
In quarterly term, however, the country's gross domestic product (GDP) shrank 1.2% in January-March, after rising 0.4% in October-December, the statistical office said in its first estimate of this year's economic performance.
Household consumption was up by a real 0.7% on the year in the first three months, while general government expenditure rose 4.8% in the period under review.
Gross fixed capital formation increased by an annual 3.1%, but exports fell 3.0% and imports dropped 5.8% in January-March.
The Croatian economy is expected to contract by close to 10% this year as a result of the coronavirus crisis.