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Estonia Industrial Production Rises In August

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Estonia’s industrial production increased in August amid a growth in electricity production and mining output, data from Statistics Estonia showed on Monday.

Industrial production rose 0.80 percent year-on-year in August.

Manufacturing output decreased 3.73 percent annually in August, following a 6.49 percent decline in the prior month.

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

“Manufacturing showed some signs of recovery in August after the summer holiday month of July,” Helle Bunder, analyst at Statistics Estonia, said.

“In the mining industry, record growth was recorded in peat production thanks to favorable weather conditions,” Bunder added.

Data showed that export sales in the manufacturing sector grew 14.3 percent annually in August and domestic sales rose 14.1 percent.

On a seasonally adjusted basis, industrial production gained 5.0 percent monthly in August. Manufacturing output rose 4.6 percent.

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