Estonia: Industrial production contraction worsens in July
September 1, 2015
In July, industrial production decreased a working-day adjusted 5.9% over the same month last year, which was a deterioration compared to the 2.1% fall tallied in June (previously reported: -3.4% year-on-year) and the lowest reading since December 2013. According to Statistics Estonia, July’s contraction reflected a deterioration in manufacturing, energy production, and mining.
A month-on-month assessment shows that industrial production fell 0.9% in July, which was a deterioration over the 0.3% contraction recorded in June. The overall trend declined in July, with annual average growth in industrial production dropping from June’s 2.4% to 1.7% in July.
Author: Robert Hill, Economist