Estonia: Industrial production accelerates in February
April 10, 2015
In February, industrial production increased a working-day adjusted 5.0% over the same month of last year, which came in well above the mild 1.9% rise tallied in January. According to Statistics Estonia, February’s solid expansion reflected improvements in the manufacturing and energy sectors. Conversely, production in the mining sector declined compared to the same month of the previous year.
A month-on-month assessment shows that industrial output rebounded from a 2.7% drop in January to a 1.6% rise in February, which marked a seven-month-high. As a result of the notable increase, the overall trend continued to improve in February, with annual average growth in industrial production rising to 3.2% from January’s 2.8%.
Author: Cecilia Simkievich, Economist