Estonia: Industrial production falls for sixth successive month in August
September 30, 2020
Industrial output dropped 5.4% year-on-year in calendar day-adjusted terms in August, which was greater than July’s 0.3% dip. The result marked the sixth consecutive month of declining output.
August’s steeper fall was primarily driven by a sharper contraction of manufacturing output. Meanwhile, mining and quarrying production picked up pace compared to July.
On a monthly seasonally-adjusted basis, factory output declined 2.1% in August, contrasting July’s 2.5% climb. Lastly, the trend deteriorated, with the annual variation of industrial production coming in at minus 6.4%, down from July’s minus 5.9% reading.