Estonia: Industrial production reaches two-year high in December
January 31, 2017
According to Statistics Estonia, industrial production expanded a working-day adjusted 10.0% over the same month last year in December, which came in above the 9.5% increase registered in November and marked the largest expansion since December 2014. A broad-based increase in all components of the index, particularly a double-digit expansion in energy production and mining, was behind December’s strong growth.
A seasonally adjusted month-on-month assessment shows that industrial production swung from a 1.7% expansion in November to a 1.0% contraction in December. Meanwhile, the annual average variation in industrial production picked up from plus 0.3% in November to plus 1.8% in December. December’s print marks the highest reading since July 2015.