Estonia Industry


Industrial production slows down in April

In April, industrial production expanded a working-day adjusted 2.6% over the same month last year, which represents a notable deceleration compared to the revised 7.5% expansion observed in March (previously reported: +7.1% year-on-year). According to Statistics Estonia, the moderation reflects slower growth in manufacturing output as well as in output of electronic products and electricity.

A month-on-month comparison points to an even sharper deterioration than the slowdown suggested by the annual data, as factory output declined a seasonally and working-day adjusted 3.3% in April, which contrasts the 4.7% increase registered in March. Despite the annual deceleration, the trend points upwards, with annual average growth in industrial production rising from 1.4% in March to 1.7% in April.

FocusEconomics Consensus Forecast panellists expect industrial production to expand 3.1% in 2013, which is unchanged from the previous month's projection. Next year, the panel expects industrial production to increase 4.9%.

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Estonia Industry Chart

Estonia Industry April 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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