Estonia: Decline in industrial output softens in October
Industrial output dropped 10.0% year on year in seasonally and calendar-adjusted terms in October (September: -15.2% ). Looking at the details of the release, manufacturing output plummeted at a sharper rate in October, while mining and quarrying output rebounded strongly.
On a monthly basis, industrial production decreased 0.5% in seasonally adjusted terms in October, moderating from September’s 3.4% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 12.0%, down from September’s minus 11.7%.