Estonia Economic Outlook
November 21, 2017The resumption of EU investment inflows and a recovery in the external sector propelled economic growth in the first half of the year to its fastest rate since 2011. Economic growth in the second half of the year is set to decelerate largely because of a base effect, not waning growth momentum. In September, industrial production logged its fifteenth consecutive month of growth. Retail sales also increased in the same month, buttressed by rising wages and declining unemployment, which dropped to its lowest rate in two years. The healthy growth momentum in the country was mentioned by Fitch Ratings as one of the main reasons for revising Estonia’s outlook from stable to positive and keeping its rate at A+ in early November. The credit rating agency lauded the prudent fiscal policy and low debt levels, which are among the lowest in A-rated countries.
Estonia Economic GrowthImproving external demand, along with healthy growth in fixed investment and private consumption, will likely support the domestic economy in 2018 and 2019. FocusEconomics panelists project that GDP will expand 3.0% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, the panel expects GDP growth of 2.9%.
Estonia Economy Data
5 years of Estonia economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.18||0.65 %||Dec 06|
|Stock Market||1,227||-0.38 %||Dec 06|
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Estonia Economic News
November 30, 2017
According to Statistics Estonia, growth in industrial production accelerated from a revised working-day adjusted 4.5% year-on-year increase in September (previously reported: +4.1% year-on-year) to a 6.2% expansion in October.
November 30, 2017
According to data published on 30 November, the economy expanded 4.2% annually in Q3.
November 17, 2017
Consumer prices dropped 0.2% in October compared to the previous month, a slightly sharper decrease than in September (-0.1% month-on-month).
November 9, 2017
According to Statistics Estonia, industrial production expanded a working-day adjusted 4.0% over the same month last year in September.
July 31, 2017
According to Statistics Estonia, industrial production expanded a working-day adjusted 14.5% over the same month last year in June.