Estonia: Growth in industrial production picks up to two-year high in December
January 30, 2015
In December, industrial production increased a working-day adjusted 7.6% over the same month of the previous year, which came in well above the 4.7% rise tallied in November and marked the fastest pace of growth since December 2012. According to Statistics Estonia, December’s notable increase was mainly driven by strong growth in the energy sector, as well as in the production of electronics, wood and metal products.
A month-on-month assessment shows that industrial output decreased 1.2% in seasonally- and working-day-adjusted terms in December, which contrasted the 1.3% rise observed in November. However, the overall trend improved in December, with annual average growth in industrial production rising from 1.3% in November to 2.4%.
Author: Cecilia Simkievich, Economist