Estonia Industrial production December 2017


Estonia: Growth in industrial production picks up steam in December

February 7, 2018

According to Statistics Estonia, growth in industrial production jumped from a revised working-day adjusted 2.7% year-on-year increase in November to a 7.1% increase in December, a six-month high. The result marked the eighteenth consecutive monthly expansion and came on the back of expansions in manufacturing and mining, which more than offset a contraction in energy production.

A seasonally-adjusted month-on-month assessment shows that growth in industrial production swung from a 1.4% decline in November to a 2.5% expansion in December. Finally, the annual average variation in industrial production moderated slightly from 8.0% in November to 7.7% in December.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.7% in 2018, which is unchanged from last month’s projection. The panel sees industrial production increasing 4.2% in 2019.

Author: Jean-Philippe Pourcelot, Economist

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Estonia Industrial production Chart

Estonia Industry December 2017

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

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