Estonia Economic Outlook
May 28, 2019Available data suggests economic activity decelerated in the first quarter of the year, after growth edged up to a one-year high in Q4 2018. Industrial production growth lost traction in Q1, owing to contracting energy output which more than offset healthy manufacturing output growth. The external sector also weakened at the beginning of 2019, with exports growth slipping to a one-year low in Q1 against the backdrop of feebler external demand conditions. Moreover, average economic sentiment weakened in Q1, chiefly due to tumbling confidence in the industrial and construction sectors. In other news, Moody’s affirmed Estonia’s A1 credit rating on 10 May, praising the resiliency of its economy and extremely low government debt levels.
Estonia Economic GrowthGrowth is expected to soften this year, against the backdrop of frailer external demand and as labor shortages curb activity growth. Nevertheless, the overall expansion should remain robust as the tight labor market bolsters household consumption, while EU-linked funds prop up fixed investment growth. FocusEconomics analysts see the economy expanding 3.2% in 2019, which is up 0.1 percentage points from last month’s forecast, before decelerating to 2.5% in 2020.
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|Exchange Rate||1.13||0.65 %||Jun 13|
|Stock Market||1,252||-0.38 %||Jun 13|
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Estonia Economic News
June 4, 2019
Industrial production fell 0.4% in annual working-day adjusted terms in April, contrasting a healthy 2.3% increase in March and marking the first contraction since November 2017.
May 31, 2019
Economic growth clocked in at 4.5% in year-on-year terms in Q1 2019, picking up slightly from the 4.3% acceleration recorded in Q4 2018, according to a detailed GDP release by Estonia’s Statistical Institute.
May 10, 2019
Consumer prices rose 1.3% from the previous month in April, accelerating markedly from March’s 0.3% uptick and marking the strongest monthly increase in over two years.
April 30, 2019
Industrial production growth fell from 4.0% in February to a five-month low of 2.4% in March, in annual working-day adjusted terms.
April 15, 2019
Consumer prices rose 0.3% from the previous month in March, up slightly from February’s 0.2% increase.