Estonia Industry August 2018

Estonia

Estonia: Industrial production accelerates in August

October 1, 2018

According to Statistics Estonia, annual industrial production growth in working day-adjusted terms accelerated in August, growing 5.6% following an annual expansion of 3.8% in July. An upturn in manufacturing output growth from 2.2% in July to 5.2% in August was behind the rise. Energy production remained strong, rising 23.0% year-on-year in the month, but marginally below July’s 24.0% expansion. On the other hand, the mining sector contracted more sharply compared to the previous month, with the rate of decline rising to 14.4% from July’s 2.5%.

On a seasonally-adjusted, month-on-month basis, industrial production rose 1.4%, contrasting four consecutive months of contraction; output declined 1.1% in July. Meanwhile, the annual average variation in industrial production remained stable at 4.3% in August.

FocusEconomics panelists industrial output to grow 5.1% in 2018, which is unchanged from last month’s forecast, and 4.2% in 2019, which is also unchanged from last month.


Author:, Economist

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Estonia Industry August 2018

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


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