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Financial News: Estonia GDP Growth Slows In Q3

Estonia GDP Growth Slows In Q3

11/30/2017 - 01:42:00 (RTTNews)

(RTTNews) - Estonia's economic growth eased in the three months ended September, after accelerating in the previous four quarters, figures from Statistics Estonia showed Thursday.

Gross domestic product expanded 4.2 percent year-over-year in the third quarter, slower than the 5.7 percent rise in the previous quarter.

During the first quarter of this year, the rate of growth was 4.6 percent.

The seasonally and working-day-adjusted GDP also advanced by 4.2 percent compared with the corresponding period last year.

In the third quarter, GDP growth was mainly driven by construction.

Other main contributors to growth were information and communication, mining and quarrying, professional, scientific and technical activities, manufacturing, transportation and storage and administrative and support service activities.

Domestic demand grew 7.0 percent as all of its components strengthened, driven by gross fixed capital formation, which grew by 13.2 percent.

On quarterly basis, the seasonally and working-day-adjusted GDP increased at a stable pace of 0.3 percent.

In an another report, the statistical office revealed that industrial production growth quickened to 6.2 percent in October from 4.5 percent in September.

Monthly, industrial production rose 1.8 percent from September, when it increased by 2.8 percent.

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