Estonia: Decline in industrial output softens in June
Industrial output declined 10.4% year on year in seasonally and calendar-adjusted terms in June, which was above May’s 13.7% decrease. The softer drop was largely driven by a weaker contraction in manufacturing production. In contrast, mining and quarrying production weakened.
On a seasonally adjusted monthly basis, industrial output fell 1.7% in June (May: +1.2% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 9.8% in June, down from May’s minus 8.8%.