Estonia Industrial production


Estonia: Growth in industrial production picks up to over one-year-high in November

January 6, 2015

In November, industrial production increased a working-day adjusted 4.9% over the same month last year, which came in above the 2.6% rise tallied in October and marked the fastest growth pace since October 2013. According to Statistics Estonia, November’s increase was mainly driven by growth in the production of electronic, wood and metal products that more than offset lower production of furniture, chemicals and building materials.

A month-on-month assessment shows that industrial output increased 1.5% in seasonally- and working-day-adjusted terms in November, which contrasted the 0.5% decrease observed in October. Moreover, the overall trend improved in November, with annual average growth in industrial production edging up from 1.0% in October to 1.2%.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.4% in 2015, which is unchanged from the previous month’s projection. In 2016, the panel expects industrial production to increase 2.4%.

Author:, Economist

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Estonia Industrial production Chart

Estonia Industry November 2014

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

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