Estonia: Economic sentiment deteriorates in September
Economic sentiment came in at 79.5 in September, down from August’s 81.8. Consequently, the index remained entrenched below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected declining sentiment in the industrial sector and dampened sentiment in the construction sector. Meanwhile, confidence in the services sector cooled in September, whereas sentiment in the retail sector was marginally less pessimistic in the month. Lastly, consumer sentiment weakened in September.
Regarding indicators that are not used to calculate the index, employment expectations deteriorated, while the economic uncertainty index increased in September.