Estonia: Decline in industrial output softens in February
Industrial output slid 7.4% year on year in seasonally and calendar-adjusted terms in February (January: -7.9%). Looking at the details of the release, manufacturing output shrank at a sharper rate in February, and the decrease in mining and quarrying output worsened.
On a monthly basis, industrial output increased 0.2% in seasonally adjusted terms in February, rebounding from January’s 0.7% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.8% in February, down from January’s minus 3.1% reading.