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Financial News: Estonia Industrial Production Falls; Retail Sales Rise

Estonia Industrial Production Falls; Retail Sales Rise

10/30/2020 - 04:57:00 (RTTNews)

(RTTNews) - Estonia's industrial production declined, while retail sales rose in September, data from Statistics Estonia showed on Friday.

Industrial production declined a working-day adjusted 2.0 percent year-on-year in September.

"Among the activities with the largest shares, the biggest decrease was recorded in the manufacture of fabricated metal products and in the manufacture of building materials," Helle Bunder, analyst at Statistics Estonia, said.

Production in the manufacture of computer and electronic products, electrical equipment, and wood increased," Bunder said.

Manufacturing output decreased 2.0 percent annually in September.

Among the other sub sectors, production in mining and energy declined 8.0 percent and 5.0 percent, respectively.

On a monthly basis, industrial production rose a seasonally and working-day adjusted 1.0 percent in September.

Separate data from the statistical office showed that the retail sales rose 6.0 percent annually in September, following a 4.0 percent increase in August.

"In September, turnover growth was driven mostly by stores selling manufactured goods," Jaanika Tiigiste, leading analyst at Statistics Estonia, said.

On a monthly basis, retail sales rose a seasonally and working-day adjusted 1.0 percent in September.

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