Estonia: Industrial output bounces back in March
Latest reading: Industrial output rose 2.9% year-on-year in seasonally and calendar adjusted terms in March, which contrasted February’s 0.6% decrease. The print marked the best reading since August 2022. Looking at the details of the release, mining and quarrying output dropped at a milder rate, while manufacturing production growth slowed in March, and energy output swung into decline.
On a seasonally adjusted monthly basis, factory output fell 1.3% in March (February: +5.8% mom). Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at minus 2.0%, up from February’s minus 3.4%.