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Estonia Industrial production January 2023

Estonia: Industrial activity falls at softer pace in January

Industrial output dropped 7.2% year on year in seasonally and calendar-adjusted terms in January (December: -12.1% ). January’s figure was partly driven by a weaker contraction in manufacturing production.

On a monthly basis, industrial production was flat in seasonally adjusted terms in January, which was well below December’s 2.1% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.0% in January, down from December’s minus 2.3%.

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