Estonia: Industrial output edges down in February
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.