Estonia’s industrial production continued to decline at the beginning of the year, but only marginally, figures from Statistics Estonia showed Friday.
Industrial production edged down a working-day-adjusted 0.2 percent year-over-year in January, following a 8.3 percent sharp fall in December. The measure has been falling since April last year.
The decline in production was mostly caused by a decrease in the manufacture of electronic and metal products, the agency said.
Mining production plunged 25.4 percent annually in January and manufacturing output fell by 1.7 percent. At the same time, energy production grew significantly by 17.4 percent.
On an unadjusted basis, industrial output dipped 2.6 percent in January from a year ago.
Month-on-month, industrial production climbed a seasonally adjusted 4.9 percent in January, reversing a 1.6 percent drop in the previous month. It was the first increase in three months.
The material has been provided by InstaForex Company – www.instaforex.com