Estonia Economic Outlook
November 20, 2018Incoming data suggests momentum carried over into the third quarter on the heels of a strong second-quarter outturn that was propelled by buoyant domestic demand. Healthy retail sales growth throughout Q3 signaled sustained private consumption dynamics, which were likely bolstered by a broadly stable inflationary environment and a near decade-low unemployment rate. Furthermore, exports growth accelerated in Q3 to a near seven-year high, despite the overall slowdown in EU trade activity, while industrial output growth quickened in Q3 amid slightly improved business sentiment and strong external demand. Looking ahead, available data paints a gloomier picture at the outset of Q4. Business sentiment fell to a near two-year low in October, pointing to a slowdown in economic activity at the end of the year. Similarly, consumer confidence slid into negative territory in the same month.
Estonia Economic GrowthAlthough growth is set to lose some momentum going forward, it will remain healthy due to robust domestic demand. Economic activity should also benefit from a marked acceleration in fixed investment growth, largely thanks to strong capital inflows from EU cohesion funds, and sustained private consumption growth on the back of tightening of labor market conditions. FocusEconomics panelists see the economy expanding 3.1% in 2019, down 0.1 percentage points from last month’s forecast, and 2.8% in 2020.
Estonia Economy Data
5 years of Estonia economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.13||0.65 %||Dec 11|
|Stock Market||1,192||-0.38 %||Dec 11|
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Estonia Economic News
December 3, 2018
According to Statistics Estonia, annual industrial output growth fell to 1.7% in working day-adjusted terms in October, from 2.6% in the previous month.
November 30, 2018
The economy shifted into a higher gear in the third quarter, according to comprehensive data released by Statistics Estonia on 30 November.
November 14, 2018
Consumer prices rose 0.5% over the previous month in October, following September’s flat reading.
October 31, 2018
According to Statistics Estonia, annual industrial output growth decelerated to 2.3% in working day-adjusted terms in September, from 5.8% in August.
October 1, 2018
According to Statistics Estonia, annual industrial production growth in working day-adjusted terms accelerated in August, growing 5.6% following an annual expansion of 3.8% in July.