Estonia: Industrial output growth remains solid in December
February 4, 2019
According to Statistics Estonia, annual working day-adjusted industrial production growth moderated to 5.8% in December from 7.8% in November, which had marked the strongest expansion in 17 months. December’s print reflected an impressive expansion in the energy sector which, coupled with healthy manufacturing output growth, more than offset yet another contraction in the mining sector.
On a seasonally-adjusted month-on-month basis, industrial production fell 0.1% in December, compared to near three-year high growth of 4.5% in November. Meanwhile, the annual average growth in industrial production moderated from 4.4% in November to 4.3 in December.
Author: Almanas Stanapedis, Research Team Manager