Estonia: Industrial output records lowest expansion since March in August
October 1, 2021
Industrial output grew 4.4% year-on-year in seasonally- and calendar-adjusted terms in August, which followed July's 9.3% increase. August's figure marked the worst reading since March. Looking at the details of the release, manufacturing output increased in August, while mining and quarrying output swung to contraction.
On a seasonally-adjusted monthly basis, factory output fell at a sharper rate of 4.1% in August (July: -0.2% mom), the worst result since April 2020. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 4.2% in August, up from July's 3.4% reading.