Estonia's industrial output growth slowed in July after accelerating the previous month, data from Statistikaamet showed on Thursday.
Key indicators:
•Tööstustoodangu maht kasvas juulis kalendrikorrigeeritult 0,7% year-on-year
•This is significantly slower than the previous month's 4,1% growth
•Nevertheless, this was the sixth consecutive month of growth
Sector results:
Manufacturing industry: +3,5% growth
•The main growth driver across the industrial sector
Energy: -29,1% decline
•The largest negative impact on the overall result
Mining: -8,7% decline
•Additional limiting factor
Monthly comparison:
Month-on-month, industrial production fell by 5,4%, which was worse than the 1,4% decline in June.
Expert assessment:
Although growth slowed, Estonian industry continues its positive trend. Strong growth in manufacturing partly offsets the decline in energy and mining.
Impact on the economy:
The data show the resilience of Estonia's industrial sector, although challenges in the energy sector are affecting the overall result. Consecutive months of growth confirm the sector's stability.
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