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Financial News: Estonia Industrial Production Rises In July

Estonia Industrial Production Rises In July

08/31/2020 - 04:22:00 (RTTNews)

(RTTNews) - Estonia's industrial production grew in July, data from Statistics Estonia showed on Monday.

Industrial production declined a working-day adjusted 2.7 percent year-on-year in July.

Helle Bunder, analyst at Statistics Estonia, said that "manufacturing showed signs of recovery in July, as more than a half of manufacturing activities exceeded last year's volumes."

"Among the activities with larger shares, production increased in the manufacture of electrical equipment, computers and electronic products as well as in the manufacture of wood and products of wood," Bunder said.

"Production decreased in the manufacture of metal products and food products," Bunder added.

Manufacturing output increased 4.4 percent annually in July.

Among the other sub sectors, production in mining declined 14.0 percent, and energy production fell 0.4 percent.

On a monthly basis, industrial production fell a seasonally and working-day adjusted 0.4 percent in July.

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