Estonia Industrial Production Rises In December

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Estonia’s industrial production rose in December, data from Statistics Estonia showed on Tuesday.

Industrial production rose a working-day adjusted 0.6 percent year-on-year in December, after a 1.2 percent fall in November.

Manufacturing output increased 1.0 percent annually in December.

On a monthly basis, industrial production rose a seasonally and working-day adjusted 2.0 percent in November.

In 2020, industrial production fell 5.0 percent.

Among main industrial sectors, production of energy declined 19.0 percent. Production in mining and manufacturing decreased 13.0 percent and 4.0 percent, respectively.

“The impact of the coronavirus on manufacturing was the most noticeable in April and May when the volume of production decreased by 15 percent and 17 percent, respectively,” Helle Bunder, analyst at Statistics Estonia, said.

The material has been provided by InstaForex Company – www.instaforex.com

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