Estonia: Industrial production slows at the outset of the year
March 5, 2013
In January, industrial production increased a working-day adjusted 5.5% over the same month last year, which was slightly below the 6.1% rise observed in December. According to Statistics Estonia, January's expansion mainly reflected an increase in manufacturing of electronic products and electricity production.
On a monthly basis, industrial production rose a seasonally and working-day adjusted 0.3% in January, which was below the 3.5% increase tallied in December. Nevertheless, annual average growth in industrial production ticked up from 0.3% in December to 0.7% in January.
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%.