Estonia Industrial Production July 2021

Estonia

Estonia: Industrial output growth eases in July

September 2, 2021

Industrial output expanded 9.9% year-on-year in seasonally- and calendar-adjusted terms in July, which followed June's 10.8% increase. July's weakening was largely driven by a deterioration in manufacturing production. In contrast, mining and quarrying output gained steam.

On a seasonally-adjusted monthly basis, industrial output rose at a more moderate pace of 0.3% in July (June: +3.1% mom). Meanwhile, annual average industrial production growth rose to 3.5% in July (June: +2.7%), signaling an improving trend in the industrial sector.

FocusEconomics panelists expect industrial production to increase 3.6% in 2021, which is down 1.0 percentage points from last month’s projection. For 2022, industrial output is seen increasing 4.3%.


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Estonia Industry July 2021

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


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