Estonia: Industrial output growth accelerates slightly in January
March 10, 2021
Industrial output increased 1.0% in January in year-on-year calendar-adjusted terms (December: +0.8% yoy ca). Looking at the details of the release, energy production led the uptick as electricity output rose by a third. However, manufacturing production contracted in January, and mining and quarrying output swung to contraction.
In month-on-month seasonally-adjusted terms, factory output fell 1.5% in January (December: +1.4% mom sa). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 4.1%, up from December's minus 4.8%.