Estonia Industrial production

Estonia

Estonia: Industrial production decelerates in June

July 31, 2014

In June, industrial production increased a working-day adjusted 1.0% over the same month last year, which was down from the 2.2% rise tallied in May. According to Statistics Estonia, June’s increase was driven mainly by strong growth in energy production and gains in the manufacturing sector, particularly of machinery and equipment, as well as refined petroleum products. In contrast, the mining industry tallied a massive contraction.

A month-on-month assessment shows that industrial output contracted 1.2% in seasonally- and working-day adjusted terms in June, which contrasted the 0.9% increase observed in May. The overall trend declined again in June, with annual average growth in industrial production falling from 1.6% in May to 1.3%, which marked the lowest level since February 2013.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.6% in 2014, which is unchanged from the previous month’s projection. In 2015, the panel expects industrial production to increase 3.9%.


Author:, Economist

Sample Report

Looking for forecasts related to Industrial production in Estonia? Download a sample report now.

Download

Estonia Industrial production Chart


Estonia Industry June 2014

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


Estonia Economic News

More news

Search form