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Financial News: Estonia Industrial Production Falls For Seventh Month

Estonia Industrial Production Falls For Seventh Month

01/31/2020 - 01:55:00 (RTTNews)

(RTTNews) - Estonia's industrial production decreased for a seventh straight month in December and fell for the whole year 2019, despite an increase in manufacturing, data from Statistics Estonia showed on Friday.

Industrial production dropped a working-day adjusted 10 percent year-on-year in December after a 7.3 percent fall in November. Output has been falling since June.

Manufacturing output dropped 6 percent and electricity production plunged 38 percent. Heat output fell 14 percent.

In December, industrial production decreased a non-adjusted 7.8 percent from a year ago.

On a month-on-month basis, the seasonally adjusted industrial production decreased 2.4 percent and manufacturing output fell 1 percent in December.

In the whole year 2019, industrial production shrunk 2 percent. Among the main sectors, only manufacturing increased, up 2 percent led by growth in production of food, computers and electronic products.

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