Estonia Industrial production March 2016

Estonia

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%.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 2.9% in 2016, which is up 0.1 percentage points from last month’s projection. The panel foresees industrial production increasing 3.8% in 2017.


Author:, Economist

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Estonia Industrial production Chart


Estonia Industry March 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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