Estonia Industry May 2019

Estonia

Estonia: Industrial productions increases in May

July 4, 2019

Industrial production rose 1.2% in annual working-day adjusted terms in May, contrasting a 0.3% year-on-year dip in April, which marked the first contraction since November 2017. May’s rebound came on the back of stronger manufacturing output growth amid booming production of computers, electronic and optical products. This has more than offset notable contractions in the energy and mining sectors.

On a seasonally-adjusted month-on-month basis, industrial production edged up 0.3% in May, contrasting the previous month’s 1.4% fall. Meanwhile, annual average growth in industrial output fell from 3.5% in April to a seven-month low of 3.3% in May.

FocusEconomics Consensus Forecast participants see industrial output expanding 3.6% in 2019, unchanged from last month’s estimate. In 2020, industrial production is expected to grow 3.3%.


Author:, Economist

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Estonia Industry May 2019

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


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