Estonia Industrial production June 2017

Estonia

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.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.7% in 2017, which is unchanged from last month’s projection. The panel foresees industrial production increasing 4.2% in 2018.


Author: Jean-Philippe Pourcelot, Economist

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Estonia Industry June 2017

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


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