Estonia: Industrial production shrinks again in March
April 29, 2016
Industrial production decreased a working-day adjusted 4.8% over the same month last year in March, which marked a deterioration from the revised 1.6% drop registered in February (previously reported: -1.7% year-on-year). March’s figure was the twelfth consecutive decline. According to Statistics Estonia, March’s reading was driven by broad-based declines across the index.
A seasonally-adjusted month-on-month assessment shows that industrial production decreased 3.3% in March, the lowest reading seen since January 2015 (February: -0.3% mom). The overall trend worsened again in March, with the annual average variation in industrial production dropping down from minus 2.9% in February to minus 3.4%.
Author: Andrea Vetrugno, Economist