Estonia Industrial production December 2016


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.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.3% in 2017, which is unchanged from last month’s projection. The panel foresees industrial production increasing 3.2% in 2018.

Author: Massimo Bassetti, Economist

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Estonia Industrial production Chart

Estonia Industry December 2016

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

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