Estonia: Industrial production continues to slow in November
December 30, 2011
In November, industrial production expanded a working-day adjusted 1.1% over the same month the year before, which was below the 2.2% increase tallied in October (previously reported: +2.3% year-on-year). The reading represented the slowest pace of growth since December 2009, and marks the third consecutive month in which industrial output has expanded at only a single-digit rate. According to Statistics Estonia, slower growth in output in November was influenced by declining production of electronic and metal products. On a monthly basis, industrial production contracted a seasonally and working-day adjusted 0.26% in November, contrasting the 2.68% rise in October. Annual average growth fell from 23.8% in October to 21.0% in November, confirming the underlying downward trend in industrial production in place since August 2011.