Estonia Industrial production September 2020

Estonia

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.

FocusEconomics panelists expect industrial production to increase 6.3% in 2021, which is down 0.6 percentage points, from last month’s projection. For 2022, industrial output is seen increasing 4.5%.


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Estonia Industry September 20 20

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Estonia and FocusEconomics Consensus Forecast.


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