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Estonia August Industrial Output Growth Weakens Sharply

Estonia's industrial production increased at a significantly slower pace in August, a report released by Statistics Estonia showed Monday.

Industrial production advanced a working-day adjusted 1.4 percent in August from a year earlier. This followed an 8.2 percent rise in July. The expansion was the weakest since February, when output grew by 1.4 percent.

Overall production was positively influenced by stable growth in manufacturing output, which held broadly steady since the beginning of the year.

The production of energy increased by 4.3 percent, and mining and quarrying production climbed 16.9 percent from a year earlier, data showed.

On a monthly basis, seasonally adjusted industrial production fell 3.5 percent in August, after recording a 2.4 percent increase in the previous month.

The statistical office further noted that the turnover of manufactured products in the export market remained largely unchanged in August, while sales in the domestic market increased by 3 percent.

by RTTNews Staff Writer

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