Estonia Industrial production June 2020

Estonia

Estonia: Industrial activity decreases in June

July 31, 2020

Industrial output slid 5.5% year-on-year in seasonally- and calendar-adjusted in June, softening from May’s 17.6% plunge which had marked the steepest drop since October 2009.

June's smaller drop was largely driven by a milder contraction in manufacturing production. In addition, mining and quarrying output also declined at a softer pace while energy production gained steam.

On a monthly basis, industrial production rose 7.7% in June, which was significantly better than May’s flat reading. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.1%, down from May's minus 5.7% reading.

FocusEconomics panelists expect industrial production to fall 11.7% in 2020, which is down 1.2 percentage points from last month’s projection. In 2021, industrial output is seen increasing 6.3%.


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