Estonia Industry


Industrial production contracts in September

In September, industrial production fell a working-day adjusted 0.7% over the same month last year, which contrasted the revised 1.2% increase tallied in August (previously reported: +1.5% year-on-year). The reading marked the lowest level since October of last year. According to Statistics Estonia, the contraction in industrial production in September was driven by a deterioration in manufacturing, which more then offset growth in the energy production sector.

A month-on-month comparison paints a less negative picture, as industrial output rose from minus 3.5% in August to minus 0.6% in September in seasonally and working-day adjusted terms. Nevertheless, the overall trend worsened, with annual average growth in industrial production falling from 4.1% in August to 3.6% in September.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.3% in 2013, which is unchanged from the previous month's projection. Next year, the panel expects industrial production to increase 3.8%, which is also unchanged from last month's forecast.

Author:, Economist

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Estonia Industry Chart

Estonia Industry September 2013

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

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