In July, industrial production decreased a working-day adjusted 7.3% over the same month last year, which represents the steepest decline since November 2009 and was larger than the 3.5% contraction observed in June (previously reported: -3.9% year-on-year). According to Statistics Estonia, July's decline mainly reflected a decrease in energy and mining production. A month-on-month comparison does not confirm the contraction reflected in the annual figures, as industrial production rose a seasonally and working-day adjusted 0.5% in July, which contrasted the 1.3% fall tallied in June. Annual average growth fell from 3.5% in June to 1.1% in July, confirming the underlying downward trend in industrial production in place since May 2011.
Industrial production declines at the fastest pace in 32 months
August 31, 2012
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Estonia Industry Chart
Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Estonia and FocusEconomics calculations.
Estonia Economic News
October 14, 2016
In September, consumer prices inched up from a 0.1% month-on-month increase in August to 0.2%.
September 30, 2016
According to Statistics Estonia, industrial production expanded a working-day adjusted 1.0% over the same month last year in August, which came in below the 2.2% increase registered in July.
September 8, 2016
In the second quarter, the economy expanded a modest 0.8% over the same quarter of the previous year, according to the revised data published by Statistics Estonia (SE) on 8 September.
September 7, 2016
In August, growth in consumer prices inched up from a flat reading in July to 0.1%.
August 31, 2016
According to Statistics Estonia, industrial production expanded a working-day adjusted 2.2% over the same month last year in July, which contrasted the revised 3.6% contraction registered in June (previously reported: -4.6% year-on-year).