Estonia Industrial production

Estonia

Estonia: Industrial production moderates in October

December 5, 2014

In October, industrial production increased a working-day adjusted 2.8% over the same month last year, which was below the 3.9% rise tallied in September (previously reported: +3.6% year-on-year). According to Statistics Estonia, October’s increase was driven by robust growth in the mining sector as well as a steep rise in the manufacture of computer and electronic products.

A month-on-month assessment shows that industrial output decreased 0.3% in seasonally- and working-day-adjusted terms in October, which contrasted the 1.6% increase observed in September. Moreover, the overall trend moderated in October, with annual average growth in industrial production falling from 1.4% in September to 1.0%.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.8% in 2014, which is unchanged from the previous month’s projection. In 2015, the panel expects industrial production to increase 2.4%, which is also unchanged from last month’s forecast.


Author:, Economist

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Estonia Industrial production Chart


Estonia Industry October 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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