Estonia Industrial production


Estonia: Industrial production contracts again in August marking sixth consecutive decline

October 30, 2015

In September, industrial production decreased a working-day adjusted 4.1% over the same month last year, which was a sharper drop than the 2.5% fall tallied in August (previously reported: -2.7% year-on-year). The figure marked the sixth consecutive decline. According to Statistics Estonia, September’s contraction was primarily the result of a decrease in the manufacturing of electronic products, chemicals, as well as in machinery and equipment.

A seasonally-adjusted month-on-month assessment shows that industrial production fell 0.5% in September, which contrasted the 1.8% increase tallied in August (previously reported: 1.1% mom). The overall trend declined in September, with annual average growth in industrial production dropping from August’s 1.2% to 0.5% in September.

FocusEconomics Consensus Forecast panelists foresee industrial production growing 0.8% in 2015, which is down 0.3 percentage points from the previous month’s projection. In 2016, the panel expects industrial production to increase 3.0%, which is down 0.2 percentage points from last month’s forecast.

Author: Jean-Philippe Pourcelot, Economist

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Estonia Industrial production Chart

Estonia Industry September 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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