Estonia Industrial production December 2020

Estonia

Estonia: Industrial production rebounds in December

February 2, 2021

Industrial output increased 0.8% year-on-year in calendar-day adjusted terms in December 2020, contrasting the 1.5% dip recorded in the previous month.

December’s result was mainly driven by a rebound in manufacturing production and a stronger expansion of the mining sector.

On a monthly seasonally-adjusted basis, factory output rose 1.6% in December, rebounding from November’s 1.5% decline. Lastly, the trend improved somewhat, with the annual average variation in industrial production coming in at minus 5.0%, up from minus 5.6% in the previous month.

FocusEconomics panelists expect industrial production to increase 6.5% in 2021, which is down 0.4 percentage points, from last month’s projection. For 2022, industrial output is seen increasing 4.3%.


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Estonia Industry December 20 20

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


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