Estonia: Industrial production continues to slow in February
April 2, 2013
In February, industrial production increased a working-day adjusted 1.4% over the same month last year, which was below the 5.8% rise observed in January. According to Statistics Estonia, the February expansion mainly reflected an increase in manufacturing of electronic products as well as of wood products.
On a monthly basis, industrial production fell a seasonally and working-day adjusted 3.9% in February, which contrasted the 0.5% rise tallied in January. Moreover, annual average growth in industrial production inched down from 0.8% in January to 0.7% in February.
FocusEconomics Consensus Forecast panellists expect industrial production to expand 4.6% in 2013, which is up 1.0 percentage points from the previous month's projection. Next year, the panel expects industrial production to increase 6.2%.