Estonia: Industrial activity deteriorates in December
Latest reading: Industrial output slid 4.3% year on year in seasonally and calendar-adjusted terms in December (November: -2.5%). The reading was largely driven by a deterioration in manufacturing output. In contrast, mining and quarrying production rebounded.
On a seasonally adjusted monthly basis, industrial production rose at a softer pace of 0.5% in December (November: +2.7% mom), the worst result since July. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 4.2%, up from November’s minus 4.6% reading.