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Estonia's Economic Growth Weakens In Q4

The Estonian economy expanded at a slower pace in the fourth quarter, final estimates published by Statistics Estonia revealed on Tuesday. However, the revised data signaled an improvement from the flash figures, which showed stagnation.

Gross domestic product (GDP) grew 0.3 percent in the December quarter of last year from the corresponding period of 2012. This followed a 0.7 percent gain in the third quarter. The flash estimates signaled zero growth in the fourth quarter.

Growth was driven mainly by a rise in the value added in trade, information and communication and manufacturing, the agency said.

The negative contribution to overall output came mainly from the transportation sector. A decline in professional, scientific and technical activities and construction also had a considerable negative effect on the GDP.

Sequentially, the economy expanded a seasonally and working-day adjusted 0.2 percent at the end of December, while the preliminary estimates showed a 0.1 percent contraction.

In the whole of 2013, the economy expanded 0.8 percent, which was the smallest increase in the last four years. The annual growth rate was estimated to be 0.7 percent.

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