Estonia: Decline in industrial activity softens in September
Latest reading: Industrial output fell 1.5% year on year in seasonally and calendar-adjusted terms in September (August: -10.6% ). September’s softer drop was largely driven by a smaller fall in manufacturing output. In addition, mining and quarrying production improved.
On a seasonally adjusted monthly basis, factory output rose at a more moderate pace of 1.0% in September (August: +1.7% mom). Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at minus 6.1%, up from August’s minus 7.4% reading.