Estonia Industrial production August 2016

Estonia

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.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 1.0% in 2016, which is unchanged from last month’s projection. The panel foresees industrial production increasing 3.8% in 2017.


Author: Jean-Philippe Pourcelot, Economist

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Estonia Industry August 2016

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Estonia and FocusEconomics calculations.


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