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Estonia Feb. Industrial Output Growth Slows, Retail Sales Fall

4/2/2013 1:49 AM ET

Estonia's industrial production increased at a slower pace in February, data released by Statistics Estonia showed Tuesday.

Industrial production, on an unadjusted basis, increased 3.2 percent on an annual basis in February, after growing 5.7 percent in January. In December, production had decreased by 1.6 percent.

Production in the manufacturing sector advanced 4 percent annually, driven mainly by a notable upturn in the production of electronic and wood products. Mining production was higher by 3.5 percent than a year earlier, while energy production decreased by 1 percent.

On a monthly basis, industrial production decreased a seasonally adjusted 3.9 percent in February, reversing the previous month's 0.5 percent increase, data showed.

Separately, the agency said Estonia's retail sales decreased at a slower rate of 7 percent month-on-month in February than 19 percent in January. Year-on-year, trade in the retail sector dropped by 4 percent, after rising 1 percent in the previous month, data showed.

by RTT Staff Writer

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