Estonia: Industrial output decreases at sharper pace in March
Industrial production collapsed 12.6% year on year in seasonally and calendar-adjusted terms in March (February: -7.5% ). Looking at the details of the release, manufacturing production shrank at a faster rate in March, and the contraction in mining and quarrying output worsened.
On a monthly basis, factory output dropped 0.9% in seasonally adjusted terms in March, which was below February’s 0.1% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.6% in March, down from February’s minus 3.8%.