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.