Estonia: Industrial output rebounds in March
Industrial output rose 2.0% in March in year-on-year calendar-adjusted terms, contrasting February’s 5.4% contraction. March’s bounce back was mainly driven by a strong rebound in manufacturing output, which marked the fastest growth in 13 months, while the mining sector contracted at a somewhat softer pace.
In month-on-month seasonally-adjusted terms, factory output dropped 1.4% in March (February: -0.1% mom sa). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 3.8%, up from February’s minus 4.8%.