Estonia: Industrial production continues to slow in October
December 2, 2011
In October, industrial production expanded a working-day adjusted 2.3% over the same month last year, which was below the 6.4% increase tallied in September (previously reported: + 5.5% year-on-year). The reading represented the slowest pace of growth seen since December 2009, and a second consecutive month in which industrial output expanded at only a single-digit rate. According to Statistics Estonia, slower growth in output in October can be mostly associated with a fall in energy production. On a monthly basis, however, industrial production rebounded from a seasonally and working-day adjusted 10.17% contraction in September to a 2.85% rise in October. Annual average growth fell from 26.9% in September to 23.8% in October.