Estonia Industrial production March 2017

Estonia

Estonia: Industrial output surges in March

May 1, 2017

According to Statistics Estonia, industrial production expanded a sharp working-day adjusted 14.8% over the same month last year in March. The result, which followed the revised 8.9% increase registered in February (previously reported: +9.0% year-on-year), marks the best expansion since August 2011. Double-digit expansions in energy production, mining and manufacturing were behind the strong monthly reading.

A seasonally adjusted month-on-month assessment shows that growth in industrial production accelerated marginally from 2.3% in February to 2.4% in March. Meanwhile, the annual average variation in industrial production picked up from 3.3% in February to 4.9% in March, an almost two-year high.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.3% in 2017, which is unchanged from last month’s projection. The panel foresees industrial production increasing 3.4% in 2018.


Author: Jean-Philippe Pourcelot, Economist

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Estonia Industrial production Chart


Estonia Industry March 2017

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Estonia and FocusEconomics calculations.


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