Estonia: Industrial production accelerates again in August
October 1, 2014
In August, industrial production increased a working-day adjusted 3.0% over the same month last year, which followed the 2.4% rise tallied in July. According to Statistics Estonia, August’s increase was driven by growth in the manufacturing sector, particularly of computer and electronic products. In contrast, the energy sector and mining and quarrying industries tallied contractions.
A month-on-month assessment shows that industrial output contracted 2.0% in seasonally- and working-day adjusted terms in August, which contrasted the 2.7% increase observed in July. The overall trend improved in August, with annual average growth in industrial production ticking up from 0.9% in July to 1.1%.
Author: Carl Kelly, Economist