Estonia: Industrial output growth slows in July
Latest reading: Industrial output expanded 0.7% year on year in seasonally and calendar-adjusted terms in July, which was a deterioration from June’s 4.1% increase. The moderation was largely driven by slowing growth in manufacturing. Meanwhile, mining and quarrying output contracted at a softer pace.
On a monthly basis, industrial production dove 5.5% in seasonally adjusted terms in July, which was well below June’s 1.3% fall and marking the worst result since January. Meanwhile, annual average of industrial production was 0.3% in July, mirroring June’s reading.