Estonia: Industrial production growth moderates in October

According to Statistics Estonia, annual industrial output growth fell to 1.7% in working day-adjusted terms in October, from 2.6% in the previous month. The print marked the weakest result since June 2016 and came on the back of moderate manufacturing and energy production growth more than offsetting a contraction in the mining sector output.

On a seasonally-adjusted month-on-month basis, industrial production rose 0.8% in October, rebounding from a 0.9% dip in September. Meanwhile, the annual average growth in industrial production moderated from 4.3% in September to 4.0% in October.

Estonia Industrial Production Forecast

FocusEconomics Consensus Forecast participants see industrial output expanding 3.8% in 2019, down 0.4 percentage points from last month’s estimate. In 2020, industrial production is expected to grow 4.2%.