Estonia Industry November 2019

Estonia

Estonia: Industrial output slumps further in November

January 3, 2020

Industrial output plummeted 7.2% in annual working-day adjusted terms in November, following the 3.9% year-on-year contraction in October. November’s result, which marked the sixth consecutive month of contraction, reflected yet another drastic slump in both mining and energy production. Meanwhile, activity in the all-important manufacturing sector also fell after a marginal expansion in October.

On a seasonally-adjusted month-on-month basis, industrial production rose 0.6% in November, down slightly from October’s 0.7% uptick. Meanwhile, the average annual variation in industrial output slumped to an over three-year low of minus 0.5% in November, contrasting the 0.8% rise in the previous month.

FocusEconomics Consensus Forecast participants see industrial output expanding 2.1% in 2020, up 0.2 percentage points from last month’s estimate. In 2021, industrial production is expected to grow 3.8%.


Author:, Economist

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Estonia Industry November 2019

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


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