Estonia: Growth in industrial production eases in August
September 30, 2016
According to Statistics Estonia, industrial production expanded a working-day adjusted 1.0% over the same month last year in August, which came in below the 2.2% increase registered in July. August’s slowdown came on the back of a contraction in two of the three components of the index, with the mining component dropping at a double-digit rate. Despite the deceleration, August’s prints represents only the third expansion since April 2015, the others having been recorded in April and July 2016.
A seasonally-adjusted month-on-month assessment shows that industrial production swung from July’s 4.5% expansion to a 0.5% contraction in August. Meanwhile, the annual average variation in industrial production edged up from minus 2.8% in July to minus 2.4% in August. August’s print marks the highest reading in eight months.