Estonia: Industrial production increases for the first time in eight months in October
December 1, 2020
Industrial output rose 1.0% year-on-year in calendar-day adjusted terms in October, rebounding from September’s 2.4% fall and breaking a streak of seven consecutive months of tumbling production.
October’s reading was primarily driven by a rebound in manufacturing production, which had been contracting for an entire year. Moreover, the mining and quarrying sector contracted at a softer pace compared to September.
On a monthly seasonally-adjusted basis, factory output climbed 2.3% in October, quickening from September’s 1.4% rise. Lastly, the trend improved, with the annual average variation of industrial production coming in at minus 6.0%, up from minus 6.4% in September.