Estonia Industrial production


Estonia: Industrial production contracts further in May

June 2, 2015

In May, industrial production decreased a working-day adjusted 2.3% over the same month last year, which was a deterioration compared to the 0.2% fall tallied in April (previously reported: -0.1% year-on-year). According to Statistics Estonia, May’s contraction reflected a deterioration in mining and manufacturing as well as in the energy production sector.

A month-on-month assessment shows that industrial output swung from a 1.1% expansion in April to a 1.5% contraction in May. As a result of the decrease, the overall trend declined in May, with annual average growth in industrial production falling from April’s 3.0% to 2.7% in May.

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 May 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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