Estonia: Industrial production tumbles for seventh month running in September
October 30, 2020
Industrial output dropped 2.4% year-on-year in calendar-day adjusted terms in September, which was softer than August’s 5.7% decline. The result marked the seventh successive month of tumbling output.
September’s reading was primarily driven by a milder fall of manufacturing output compared to August. Meanwhile, mining and quarrying production swung to contraction.
On a monthly seasonally-adjusted basis, factory output rose 1.3% in September, rebounding from August’s 2.4% slump. Lastly, the trend held stable, with the annual variation of industrial production coming in at minus 6.4%, matching August’s reading.