Estonia Industrial Production September 2021

Estonia

Estonia: Industrial output growth rises in September

November 1, 2021

Industrial output expanded 8.9% year-on-year in seasonally- and calendar-adjusted terms in September, which followed August's 4.4% increase. Looking at the details of the release, manufacturing output expanded at a softer rate in September, while mining and quarrying output fell at a more moderate rate.

On a monthly basis, industrial production increased 5.3% in seasonally-adjusted terms in September, which was notably better than August’s 4.1% fall and marked the best result since June 2020. Meanwhile, annual average industrial production growth rose to 5.1% in September (August: +4.1%). This signals an improving trend in the industrial sector.

FocusEconomics panelists expect industrial production to increase 4.3% in 2022, which is down 0.1 percentage points from last month’s projection. For 2023, industrial output is seen increasing 3.7%.


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Estonia Industry September 2021

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Estonia and FocusEconomics Consensus Forecast.


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