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Estonia Industrial Production Growth Hits 7-Month High

Estonia's industrial production growth accelerated in January to the strongest level in seven months, figures from Statistics Estonia showed Monday.

Industrial production advanced a working-day-adjusted 7.6 percent year-over-year in January, faster than the 6.8 percent gain in December.

Moreover, this was the highest rate of expansion since June last year, when production had grown 12.7 percent.

The annual growth in January was driven by a 10.0 percent spike in manufacturing production.

At the same time, mining output dropped 0.5 percent and energy production contacted by 2.5 percent.

On a monthly basis, industrial production rose a seasonally adjusted 1.9 percent from December, when it increased by 1.8 percent.

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