Estonia Industrial production

Estonia

Estonia: Industrial production contraction worsens in June

July 31, 2015

In June, industrial production decreased a working-day adjusted 3.4% over the same month last year, which was a deterioration compared to the 2.4% fall tallied in May (previously reported: -2.3% year-on-year) and the lowest reading since December 2013. According to Statistics Estonia, June’s contraction reflected a deterioration in manufacturing as well as in the energy production sector, however production in mining increased.

A month-on-month assessment shows that industrial production fell 1.4% in June, which was a slight improvement over the 1.6% contraction recorded in May. The overall trend declined in June, with annual average growth in industrial production dropping from May’s 2.7% to 2.3% in June

FocusEconomics Consensus Forecast panelists foresee industrial production growing 3.4% in 2015, which is unchanged from the previous month’s projection. In 2016, the panel expects industrial production to increase 3.8%.


Author:, Economist

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Estonia Industrial production Chart


Estonia Industry June 2015

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


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