Estonia Industry


Industrial production slows in March

In March, industrial production increased a working-day adjusted 1.4% over the same month last year, which came in well below the 4.9% rise tallied in February. According to Statistics Estonia, March’s timid expansion reflected a deterioration in the energy and manufacturing sectors. Conversely, production in the mining sector improved in March.

A month-on-month assessment shows that industrial output swung from a 1.6% rise in February to a 1.0% contraction in March. Despite the decrease, the overall trend continued to improve in March, with annual average growth in industrial production rising from February’s 3.2% to 3.5%.

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 Industry Chart

Estonia Industry March 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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