Estonia: Industrial output records slowest expansion since February 2021 in January
Industrial output grew 1.4% year-on-year in seasonally- and calendar-adjusted terms in January, which followed December’s 8.2% increase. The result marked the weakest reading since February 2021. January’s reading was largely due to a deterioration in manufacturing output growth. In contrast, mining and quarrying production rebounded.
On a seasonally-adjusted monthly basis, factory output nosedived 6.1% in January (December: +1.6% mom), the weakest result since April 2020. Consequently, the trend pointed down, with the annual average growth of industrial production coming in at 6.6% in January, down from December’s 6.8% reading.