Estonia: Industrial production decelerates in November
January 6, 2014
In November 2013, industrial production rose a working-day adjusted 2.2% over the same month of the previous year, which came in below the 6.9% expansion tallied in October. According to Statistics Estonia, November's deceleration was driven by slower growth in manufacturing output and a weaker expansion in energy production.
A month-on-month assessment shows that industrial output fell 1.0% in seasonally and working-day adjusted terms in November, which contrasted the 1.1% expansion observed in October. The overall trend stabilized in November, with annual average growth in industrial production remaining at October's 4.3%.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.7% in 2014, which is down 0.6 percentage points from the previous month's projection. In 2015, the panel expects industrial production to increase 5.3%.
Author: Carl Kelly, Economist