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Estonia Industrial production September 2023

Estonia: Industrial activity falls at sharpest rate since April in September

Industrial production collapsed 14.7% year on year in seasonally and calendar-adjusted terms in September (August: -11.9%). September’s outturn marked the worst reading since April. The notable weakening was largely due to a deterioration in manufacturing output. In contrast, mining and quarrying production fell at a softer rate.

On a monthly basis, industrial output dropped 2.9% in seasonally adjusted terms in September, contrasting August’s 2.2% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 11.7%, down from August’s minus 11.1% reading.

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