Estonia Industrial Production February 2022

Estonia

Estonia: Industrial output in February records worst reading since February 2021

April 6, 2022

Industrial output grew 1.7% year-on-year in seasonally- and calendar-adjusted terms in February (January: +2.4%). The outturn marked the lowest reading since February 2021. Looking at the details of the release, manufacturing production accelerated in February, while mining and quarrying output swung to contraction.

On a seasonally-adjusted monthly basis, industrial production fell at a more moderate rate of 0.5% in February (January: -5.3% mom). Meanwhile, annual average industrial production growth rose to 7.3% in February (January: +6.7%), signaling an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists project industrial production to expand 3.6% in 2022, which is down 1 percentage point from last month’s forecast, and 3.6% in 2023.


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Estonia Industry February 2022 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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