Estonia: Industrial output growth eases in January
March 5, 2019
According to Statistics Estonia, annual working day-adjusted industrial production growth slowed from 5.4% in December to 4.7% in January. January’s print reflected yet another impressive expansion of the energy sector which, coupled with sustained manufacturing output growth, more than offset a contraction in the mining sector.
On a seasonally-adjusted month-on-month basis, industrial production rose 0.9% in January, compared to a 0.3% drop in December. Meanwhile, the annual average growth in industrial production moderated from 4.1% in December to 3.9% in January.
Estonia Industrial Production Forecast
FocusEconomics Consensus Forecast participants see industrial output expanding 4.1% in 2019, up 0.2 percentage points from last month’s estimate. In 2020, industrial production is expected to grow 4.1%.
Author: Almanas Stanapedis, Research Team Manager