Estonia: Industrial production growth accelerates in January
March 5, 2018
According to Statistics Estonia, industrial production growth accelerated for a third consecutive month in January, expanding 7.7% in annual terms compared to a revised working-day adjusted 6.7% increase (previously reported: +7.1% year-on-year) in December. The result marked the nineteenth consecutive monthly expansion, and a seven-month high, with overall growth driven by a robust expansion in the manufacturing sector, which more than offset contractions in mining and energy production.
A seasonally-adjusted month-on-month assessment shows that growth in industrial production remained stable in January at 1.9%. Finally, the annual average variation in industrial production ticked up from 8.1% in December to 8.2% in January.
Estonia Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.6% in 2018, which is down 0.3 percentage points from last month’s projection. The panel sees industrial production increasing 3.2% in 2019.
Author: Almanas Stanapedis, Research Team Manager