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%.
Author: Carl Kelly, Economist