Estonia: Industrial output expands solidly in June
July 31, 2017
According to Statistics Estonia, industrial production expanded a working-day adjusted 14.5% over the same month last year in June. The result, which followed the 12.6% increase observed in May, marked another month of solid growth and was the twelfth consecutive monthly expansion. The strong increase reflects an across-the-board increase in all three main components of the index with a 95.5% increase in mining leading the month’s gains followed by energy production and manufacturing.
A seasonally adjusted month-on-month assessment shows that growth in industrial production swung from a 0.3% decline in May to a strong 1.1% increase in June. Meanwhile, the annual average variation in industrial production jumped from a 7.0% increase in May to a stronger 8.4% expansion, the highest print since June 2012.