Estonia: Economic growth stagnates in Q4
February 11, 2014
According to the flash estimate released by Statistics Estonia (SE) on 11 February, GDP growth was flat over the same period of the previous year in Q4, which was a decrease over the 0.7% rise recorded in Q3.
In seasonally and working-day adjusted terms, GDP fell 0.1% quarter-on-quarter, which contrasted the 0.6% rise tallied in the third quarter.
According to SE, the slowdown in Q4 was mainly driven by a contraction in the export of manufactured goods. A more complete dataset for national accounts will be released on 11 March.
The Central Bank expects GDP growth to reach 2.6% in 2014 and 3.9% in 2015. FocusEconomics Consensus Forecast participants see the economy growing 2.8% in 2014, which is down 0.3 percentage points from last month's estimate. In 2015, economic growth is expected to accelerate to 3.3%.
Author: Carl Kelly, Economist