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Estonia Industrial production May 2021

Estonia: Industrial output growth moderates in May

Industrial output grew 15.9% year-on-year in seasonally- and calendar-adjusted terms in May, moderating from April’s 16.8% increase. Looking at the details of the release, a sharper contraction in mining and quarrying output seemingly offset a slightly quicker rise in manufacturing.

On a seasonally-adjusted and month-on-month basis, industrial production fell 1.6% in May (April: +4.4%). Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at plus 1.8%, contrasting April’s minus 1.0%.

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