Estonia: Growth in industrial production picks up steam in December
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.