Estonia GDP


Economic growth slows down in Q3

According to the flash estimate released by Statistics Estonia (SE), GDP expanded 0.4% over the same period last year in Q3, which was a decrease over the 1.1% rise recorded in Q2.

In seasonally and working-day adjusted terms, GDP rose 0.4% quarter-on-quarter, which contrasted the 0.2% drop tallied in the second quarter.

According to SE, the slowdown in Q3 was mainly driven by a contraction in the construction sector. A more complete dataset for national accounts will be released on 9 December.

The Central Bank expects GDP growth to reach 2.0% in 2013 and 4.2% in 2014. FocusEconomics Consensus Forecast participants see the economy growing 1.7% in 2013, which is down 0.1 percentage points from last month's estimate. In 2014, economic growth is expected to accelerate to 3.5%, which is unchanged from last month's forecast.

Author:, Economist

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Estonia GDP Chart

Estonia GDP Q3 2013

Note: Year-on-year changes of GDP in %.
Source: Statistics Estonia and FocusEconomics Consensus Forecast.

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