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.