Estonia Industrial Production November 2021

Estonia

Estonia: Industrial output growth rises in November

January 6, 2022

Industrial output expanded 6.2% year-on-year in seasonally- and calendar-adjusted terms in November (October: +2.5%). November's notable upturn was primarily due to an improvement in manufacturing, which grew at a much faster pace. Meanwhile, mining and quarrying production fell at a slower, yet still pronounced, pace.

On a seasonally-adjusted monthly basis, factory output rose 2.7% in November (October: -2.9% mom). Meanwhile, annual average industrial production growth rose to 5.6% in November (October: +4.8%). This signals an improving trend in the industrial sector.

FocusEconomics panelists expect industrial production to increase 4.0% in 2022, which is down 0.6 percentage points from last month’s projection. For 2023, industrial output is seen increasing 3.7%.


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Estonia Industry November 2021 0

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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