Estonia: Industrial output expands solidly in May
July 10, 2017
According to Statistics Estonia, industrial production expanded a working-day adjusted 12.6% over the same month last year in May. The result, which followed the 10.4% increase observed in April, marked another month of solid growth and was the eleventh consecutive monthly expansion. The strong increase reflects an across-the-board increase in all three main components of the index with a 57.9% increase in energy production leading the month’s gains followed by mining and manufacturing.
A seasonally adjusted month-on-month assessment shows that growth in industrial production swung from a 0.4% expansion in April to a 0.3% decline in May. Meanwhile, the annual average variation in industrial production jumped from a 5.8% increase in April to a stronger 7.0% expansion, the highest print since June 2012.