Estonia: Industry rebounds in April
May 30, 2014
In April, industrial production increased a working-day adjusted 3.9% over the same month last year, which contrasted the 2.0% decrease tallied in March (previously reported: -2.9% year-on-year). The expansion marked the fastest pace of acceleration since October 2013. According to Statistics Estonia, the rebound was driven by growth in the mining and manufacturing industries. Meanwhile, energy production tallied a steep decline.
A month-on-month assessment shows that industrial output expanded 2.2% in seasonally- and working-day adjusted terms in April, which was up slightly from the 2.1% increase observed in March. The overall trend picked up in April following four months of decline, with annual average growth in industrial production rising from 1.7% in March to 1.8%.
Author: Carl Kelly, Economist