Estonia: Industrial output dips in November
Latest reading: Industrial output decreased 2.5% year-on-year in seasonally and calendar adjusted terms in November, which contrasted October’s 2.5% increase. Looking at the details of the release, energy production fell at a notably sharper pace. That said, manufacturing output accelerated in November, and mining and quarrying output contracted at a softer rate.
On a monthly basis, factory output increased 2.8% in seasonally adjusted terms in November, which was above October’s 1.4% expansion and marking the best result since May. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 4.6% in November, up from October’s minus 4.9%.