Estonia: Industrial production registers small increase in February
March 31, 2014
In February, industrial production increased a working-day adjusted 0.2% over the same month last year, which contrasted the 1.2% contraction tallied in January. According to Statistics Estonia, a massive contraction in energy production was offset by increases in the manufacturing and mining industries. A month-on-month assessment shows that industrial output decreased 2.2% in seasonally- and working-day adjusted terms in February, which contrasted the 4.2% increase observed in January. The overall trend was stable in February, with annual average growth in industrial production holding steady at January's 2.5%. 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