Estonia’s industrial production decreased for the fifth straight month in August, figures from Statistics Estonia showed Wednesday.
Industrial production dropped a working-day-adjusted 2.7 percent year-over-year in August, much slower than the 6.7 percent decline in the previous month. In July, production had fallen 2.4 percent.
In August, the decline in production volume was caused primarily by a decrease in the manufacture of electronic products, chemicals and building materials, the agency said.
Electricity production plunged 20.0 percent annually in August, dragged down by the partial replacement of own production with cheaper imports.
On an unadjusted basis, industrial production dropped the same 2.7 percent in August from a year ago.
On a monthly basis, industrial production climbed a seasonally adjusted 1.4 percent in August, reversing a 1.2 percent decrease in July. It was the first increase in four months.
The material has been provided by InstaForex Company – www.instaforex.com