Croatia Consumer Electronics Report Q3 2013 - New Study Released
BMI expects the Croatian CE market will report low single-digit growth, with trading conditions remaining challenging, despite an upwards revision of our forecast due largely to macroeconomic factors. In 2012, the government's introduction of a fiscal austerity budget weakened consumer demand for durables, which was also hit by the increase in VAT to 25% from 23%. Meanwhile, with private consumption contracting by 4.2% y-o-y in Q412, and unemployment growing to 21.9% in January 2013, we hold a bleak private consumption...
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