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.
Author: Stephen Vogado, Economist