Estonia Industrial production


Industrial production contraction worsens in July

In July, industrial production decreased a working-day adjusted 5.9% over the same month last year, which was a deterioration compared to the 2.1% fall tallied in June (previously reported: -3.4% year-on-year) and the lowest reading since December 2013. According to Statistics Estonia, July’s contraction reflected a deterioration in manufacturing, energy production, and mining.

A month-on-month assessment shows that industrial production fell 0.9% in July, which was a deterioration over the 0.3% contraction recorded in June. The overall trend declined in July, with annual average growth in industrial production dropping from June’s 2.4% to 1.7% in July.

FocusEconomics Consensus Forecast panelists foresee industrial production growing 3.4% in 2015, which is unchanged from the previous month’s projection. In 2016, the panel expects industrial production to increase 3.8%.

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Estonia Industrial production Chart

Estonia Industry July 2015

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

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