Estonia Industrial production October 2016

Estonia

Estonia: Growth in industrial production slows in October from September's almost two-year high

December 9, 2016

According to Statistics Estonia, industrial production expanded a working-day adjusted 4.6% over the same month last year in October, which came in below the revised 6.0% increase registered in September (previously reported: +6.5% year-on-year). October’s print, which marks a drop from September’s almost two-year high, came on the back of a contraction in mining and a slowdown in manufacturing growth. October’s print marks the fourth consecutive expansion in industrial production and the fifth rise since April 2015.

A seasonally-adjusted month-on-month assessment shows that industrial production swung from September’s 5.1% expansion to a 0.9% drop in October. Meanwhile, the annual average variation in industrial production edged up from minus 1.6% in September to minus 1.1% in October. October’s print marks the highest reading in eleven months.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 0.4% in 2017, which is up 0.1 percentage points from last month’s projection. The panel foresees industrial production increasing 3.3% in 2018, which is unchanged from last month’s forecast.


Author: Jean-Philippe Pourcelot, Economist

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Estonia Industrial production Chart


Estonia Industry October 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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