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Financial News: Estonia Industrial Production Falls In July

Estonia Industrial Production Falls In July

09/02/2022 - 05:41:00 (RTTNews)

(RTTNews) - Estonia's industrial production decreased in July as mining output and manufacturing logged a decline, data from Statistics Estonia showed on Friday.

Industrial production fell 6.4 percent year-on-year in July.

"The volume of industrial production decreased in most manufacturing activities in July," Helle Bunder, analyst at Statistics Estonia, said.

Manufacturing output decreased 6.4 percent annually in July, following a 3.0 percent drop in the prior month.

Production in mining fell 17.5 percent, while electricity output rose 5.2 percent.

Data showed that export sales in the manufacturing sector grew 15.7 percent annually in July and domestic sales rose 7.0 percent.

On a seasonally adjusted basis, industrial production declined 7.4 percent monthly in July. Manufacturing output decreased 5.2 percent.

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