Estonia Industrial production

Estonia

Estonia: Industrial production in September accelerates at fastest pace in five months

October 31, 2014

In September, industrial production increased a working-day adjusted 3.6% over the same month last year, which was above the 2.7% rise tallied in August (previously reported: +3.0% year-on-year). According to Statistics Estonia, September’s increase was driven by growth in the manufacturing sector, particularly of computer and electronic products, and of machinery and equipment. In contrast, the energy sector and mining and quarrying industries tallied large contractions.

A month-on-month assessment shows that industrial output expanded 1.3% in seasonally- and working-day adjusted terms in September, which contrasted the 2.4% decrease observed in August. Moreover, the overall trend improved in September, with annual average growth in industrial production ticking up from 1.1% in August to 1.4% in September.

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

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Estonia Industrial production Chart


Estonia Industry September 2014

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


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