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Financial News: Estonia Industrial Production Growth Quickens In May

Estonia Industrial Production Growth Quickens In May

06/30/2017 - 01:24:00 (RTTNews)

(RTTNews) - Estonia's industrial production growth accelerated in May, while retail sales rose at a stable pace, figures from Statistics Estonia showed Friday.

Industrial production surged a working-day-adjusted 12.6 percent year-over-year in May, faster than the 10.3 percent spike in April. The measure has been rising since July 2016.

Among sectors, energy production grew the most by 57.9 percent annually in May, followed by mining output with 34.9 percent growth.

On a monthly basis, industrial production dropped a seasonally adjusted 0.3 percent from April, when it rose by 0.4 percent.

Separately, the statistical office revealed that retail sales climbed at a steady rate of 1.0 percent yearly in May. Sales have been increasing since October 2013.

Month-on-moth, retail sales rebounded strongly by 9.0 percent in May, following a 1.0 percent decline in the prior month,

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