Estonia: Industrial production shows the first signs of recovery in April
May 31, 2016
According to Statistics Estonia, industrial production increased a working-day adjusted 0.8% over the same month last year in April, which marked a solid improvement from the revised 5.1% drop registered in March (previously reported: -4.8% year-on-year). April’s increase marked the best result since March 2015 and was driven by broad-based improvements across the index.
A seasonally-adjusted month-on-month assessment shows that industrial production increased 5.9% in April, the highest reading seen since January 2014 (March: -3.3% mom). Meanwhile, the annual average variation in industrial production edged up from March’s minus 3.5% to minus 3.3% in April.
Author: Andrea Vetrugno, Economist