Estonia Industrial Production July 2022

Estonia

Estonia: Industrial activity falls at sharpest pace since May 2020 in July

September 2, 2022

Industrial output collapsed 6.4% year on year in seasonally- and calendar-adjusted terms in July, which was down from June's flat result and marked the worst reading since May 2020. The reading was largely due to a sharper contraction in manufacturing production: It fell at the quickest pace since February 2021. In addition, mining and quarrying production contracted heavily. Only electricity production registered growth in July.

On a monthly basis, industrial production plummeted 7.4% in seasonally-adjusted terms in July, which was well greater than June’s 2.1% fall and marked the worst result since April 2020. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 3.8% in July, down from June's 5.0%.

FocusEconomics panelists project industrial production to expand 2.5% in 2022, which is up 0.6 percentage points from last month’s forecast, and 2.6% in 2023.


Author:

Sample Report

Looking for forecasts related to Industrial Production in Estonia? Download a sample report now.

Download

Estonia Industrial Production Chart


Estonia Industry July 2022

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


Estonia Economic News

More news

Search form