Estonia Economic Outlook
February 4, 2020Growth momentum appears to have weakened in the final quarter of last year after the economy picked up steam in the third quarter. The economic sentiment indicator weakened, on average, in Q4 compared to Q3, amid a broad-based deterioration led by slumping confidence in the industrial, retail trade and services sectors. This signaled that industrial output will have contracted for the seventh consecutive month in December, while retail sales likely decelerated further in the same month after growing at the weakest pace in nearly a year in November. On the external front, growth dynamics were similarly downbeat: Merchandise exports slumped at the sharpest pace in over four years in November against a backdrop of faltering global and intra-EU trade.
Estonia Economic GrowthGrowth is set to lose steam in 2020, hurt by waning productivity gains due to much laxer investment activity growth and as feeble demand among key trading partners weighs on the external sector. That said, private consumption should remain robust this year, amid still-tight labor market conditions and rising wages, thus cushioning the slowdown. FocusEconomics analysts see the economy expanding 2.7% in 2020, which is unchanged from last month’s forecast, and 2.7% again in 2021.
Estonia Economy Data
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|Exchange Rate||1.12||0.65 %||Dec 31|
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Estonia Economic News
February 7, 2020
Consumer prices fell 0.4% over the previous month at the outset of the year, following a 0.3% month-on-month decrease in December.
January 31, 2020
Industrial output plummeted 10.0% in annual working-day-adjusted terms in December, deteriorating from the 7.3% year-on-year contraction recorded in November.
January 8, 2020
Consumer prices fell 0.3% over the previous month in December, following a 0.2% month-on-month decrease in November.
January 3, 2020
Industrial output plummeted 7.2% in annual working-day adjusted terms in November, following the 3.9% year-on-year contraction in October.
December 6, 2019
Consumer prices fell 0.2% over the previous month in November, following a 0.1% month-on-month decrease in October.