Skip to content Estonia Industrial Eases in Nov 2023
Bloomberg – In November 2023, Estonia experienced a decline in its industrial output, marking a decrease of 5.8% compared to the previous year. This downturn represents a significant easing from the 12.2% reduction observed in October. Notably, this marks the 18th month in a row where industrial production has contracted, yet it’s the mildest decline since August 2022.
The decrease was less severe in sectors like manufacturing, which saw a 5.4% drop compared to October’s 12.6%, and in the electricity, gas, steam, and air conditioning supply sectors, where the decline was 10.8%, improved from 14% in the prior month. Contrarily, the mining and quarrying sector experienced a 2.4% drop, a notable change from the 12.9% increase previously.
Despite these downward trends, there was a positive turn on a monthly basis; after adjusting for seasonal factors, industrial production in November rose by 2.6%, a recovery from the 0.5% decrease seen in the preceding month.
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