Estonia Economic Outlook
September 27, 2016The Estonian economy shifted into a lower gear in the second quarter. GDP growth decelerated, nearly halving to 0.8% in annual terms. The weak reading reflects a slump in the mining and quarrying, real estate and energy sectors, the latter of which continues to be affected by low commodity prices. This, however, does not reveal the full picture of the economy. Other sectors such as information and communication performed strongly and supported solid growth in exports and fixed investment. Fixed investment expanded for the first time in over two years on the back of higher capital expenditure by firms, suggesting that economic activity is gaining momentum. On the political front, the third round of voting held on 24 September in Parliament to elect the country’s mostly ceremonial presidential post yielded another inconclusive result, raising the need for new elections.
Estonia Economy Data
5 years of Estonia economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.09||-0.50 %||Oct 21|
|Stock Market||1,031||0.33 %||Oct 21|
Estonia Economic Growth
September 27, 2016Improved economic prospects in Estonia’s main trading partners and a recovery in domestic demand will support growth this year and next. Nevertheless, ongoing geopolitical uncertainty in the region and a slow recovery in prices of Estonia’s key exports pose downside risks to growth. FocusEconomics panelists currently foresee GDP expanding 1.9% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel expects the growth rate to accelerate to 2.5%.
Estonia Economic News
October 14, 2016
In September, consumer prices inched up from a 0.1% month-on-month increase in August to 0.2%.
September 30, 2016
According to Statistics Estonia, industrial production expanded a working-day adjusted 1.0% over the same month last year in August, which came in below the 2.2% increase registered in July.
September 8, 2016
In the second quarter, the economy expanded a modest 0.8% over the same quarter of the previous year, according to the revised data published by Statistics Estonia (SE) on 8 September.
September 7, 2016
In August, growth in consumer prices inched up from a flat reading in July to 0.1%.
August 31, 2016
According to Statistics Estonia, industrial production expanded a working-day adjusted 2.2% over the same month last year in July, which contrasted the revised 3.6% contraction registered in June (previously reported: -4.6% year-on-year).