Estonia Industry


Industrial production growth slows in December

In December, industrial production increased a working-day adjusted 6.7% over the same month the year before, which was slightly below the 6.9% rise observed in November (previously reported: +6.5% year-on-year). According to Statistics Estonia, December's reading reflected an increase in manufacturing as well as in energy production.

On a monthly basis, industrial production declined a seasonally and working-day adjusted 1.0% in December, which contrasted the 5.0% increase tallied in November. In the full year 2012, industrial production averaged a meagre 0.1%, which was well below the robust 17.6% increase registered in 2011.


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Estonia Industry Chart

Estonia Industry December 2012

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

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