Estonia Industry February 2020

Estonia

Estonia: Industrial output edges down in February

April 10, 2020

Industrial output fell 0.2% in annual working-day-adjusted terms in February, following a sharp 11.7% contraction in the opening month of the year and marking the softest contraction in output since May 2019. The improvement chiefly reflected a significant upturn in the all-important manufacturing sector which nearly offset sharp contractions in the mining and energy sectors.

On a seasonally-adjusted month-on-month basis, industrial production jumped 8.7% February, contrasting a 0.9% drop in the opening month of the year. Meanwhile, the average annual variation in industrial output slumped to an over 10-year low of minus 3.7% in Febraury, from the 3.3% fall in the previous month.

FocusEconomics Consensus Forecast participants see industrial output contracting 6.2% in 2020, which is down 7.6 percentage points from last month’s estimate. In 2021, industrial production is expected to grow 4.6%.


Author:, Economist

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Estonia Industry February 20 20

Note: Year-on-year changes and annual average variation of industrial production in %
Source: Statistics Estonia and FocusEconomics calculations.


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