Estonia: Industrial output decreases at sharper pace in January
Industrial production decreased 8.6% year on year in seasonally and calendar-adjusted terms in January (December: -7.7% yoy). The weakening was partly due to a bigger fall in manufacturing production. In contrast, mining and quarrying output dropped at a more moderate pace.
On a seasonally adjusted monthly basis, industrial output plunged 6.6% in January (December: +5.2% mom), the worst result since July 2022. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 11.7% in January, down from December’s minus 11.4%.