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Composite economic indicator CROLEI keeps growing in September.

Composite economic indicator CROLEI keeps growing in September. The composite leading economic indicator CROLEI, which is complied by the finance ministry and the Zagreb Institute of Economics, continued on upward path in September, improving by further 0.61pts m/m. In august, it added 1.14pts m/m after 0.46pts increase in July and 0.47pts increase in June. The finance ministry commented that the continuous growth indicated strong industrial and economic growth by the end of 2006 and in early 2007. The components of the index that showed m/m growth were: number of tourist overnights; real retail sales; total liquid assets; cash and deposits in kuna; commercial banks’ foreign exchange reserves on term deposits; and money market interest rate.

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