Estonia: Industrial output falls at sharper pace in June
Industrial output collapsed 7.7% year on year in seasonally and calendar adjusted terms in June, which followed May’s 1.5% decrease. Looking at the details of the release, manufacturing production decreased at a sharper pace in June, and the decline in mining and quarrying output worsened.
On a monthly basis, industrial output dropped 3.6% in seasonally adjusted terms in June, contrasting May’s 3.6% expansion and marking the worst result since January. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at an over one-year high of minus 8.3% in June, up from May’s minus 8.7% reading.