Estonia: Industrial production contracts faster in March
Latest reading: Industrial production was down 0.7% on a year-on-year basis in March, following a 0.5% drop in the previous month.
Relative to the previous month’s figures, the reading for electricity, gas, steam and air conditioning supply softened in March (-19.5% yoy vs +4.0% in February). Moreover, manufacturing weakened at the same pace as in the prior month (-1.2% in March and February). In contrast, the reading for mining and quarrying improved in March (+5.9% vs 0.0% in February).
In seasonally adjusted month-on-month terms, industrial production fell 2.6% in March, following a 0.6% drop in the previous month.