Estonia Industrial Production April 2022

Estonia

Estonia: Industrial output growth slows in April

June 2, 2022

Industrial production rose 3.8% year-on-year in seasonally- and calendar-adjusted terms in April (March: +7.9%). The figure was partly driven by a deterioration in manufacturing production growth. In addition, mining and quarrying output fell heavily.

On a seasonally-adjusted monthly basis, industrial output rose at a softer pace of 0.8% in April (March: +5.1% mom). Meanwhile, annual average industrial production growth fell to 6.8% in April (March: +7.9%). This signals a worsening trend in the industrial sector.

Our panelists project industrial production to expand 2.2% in 2022, which is down 0.3 percentage points from last month’s forecast, and 3.5% in 2023.


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Estonia Industry April 2022 1

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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