Estonia Industry November 2018

Estonia

Estonia: Industrial output soars in November

January 4, 2019

According to Statistics Estonia, annual working day-adjusted industrial production growth rose from a meagrer 1.7% in October to 7.9% in November. November’s print marked the strongest reading since June 2017 and reflected robust expansions in the energy and manufacturing sectors, which more than offset a contraction in the mining sector.

On a seasonally-adjusted month-on-month basis, industrial production rose at a near three-year high 4.5% in November, up from 0.8% in October. Meanwhile, the annual average growth in industrial production increased from 4.0% in October to 4.4% in November.

FocusEconomics Consensus Forecast participants see industrial output expanding 3.9% in 2019, up 0.1 percentage points from last month’s estimate. In 2020, industrial production is expected to grow 4.2%.


Author:, Economist

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Estonia Industry November 2018

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


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