Estonia Industrial production September 2016

Estonia

Estonia: Industrial production expands robustly in September

According to Statistics Estonia, industrial production expanded a working-day adjusted 6.5% over the same month last year in September, which came in above the revised 0.9% expansion registered in August (previously reported: +1.0% year-on-year). September’s print, which marks an almost-two year high, came on the back of an expansion in energy production and manufacturing, which more than offset a decline in mining output. September’s print marks the third consecutive expansion in industrial production and the fourth rise since April 2015.

A seasonally-adjusted month-on-month assessment shows that industrial production swung from August’s 0.5% drop to a 5.1% expansion in September. Meanwhile, the annual average variation in industrial production edged up from minus 2.4% in August to minus 1.6% in September. September’s print marks the highest reading in ten months.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 1.0% in 2016, which is unchanged from last month’s projection. The panel foresees industrial production increasing 3.8% in 2017, which is down 0.1 percentage points from last month’s forecast.


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Estonia Industrial production Chart


Estonia Industry September 2016

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


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