Estonia: Industrial production swings back to decline in November
January 6, 2021
Industrial output dipped 1.6% year-on-year in calendar-day adjusted terms in November, swinging back to contraction after October broke a streak of seven successive months of tumbling production (October: +1.5% yoy).
November’s reading was primarily driven by declining manufacturing production, which had expanded in the previous month. Meanwhile, mining and quarrying output rebounded in November.
On a monthly seasonally-adjusted basis, factory output slipped 1.5% in November, contrasting October’s 2.6% increase. Lastly, the trend improved, with the annual average variation in industrial production coming in at minus 5.6%, up from minus 5.9% in October.