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2023.07.0410:50:00UTC+00Estonia's Industrial Output Continues To Fall Sharply

Estonia's industrial production continued its steep declining trend in May, though the pace of contraction softened from April, data from Statistics Estonia showed on Tuesday.

Industrial production plunged a calendar-adjusted 12.7 percent year-on-year in May, following a 15.8 percent slump in the previous month. Production has been falling since June last year.

Among the main sectors, electricity production decreased the most by 31.5 percent over the year, followed by manufacturing with a 13.1 percent drop. On the other hand, mining output recovered markedly, by 36.3 percent.

On a seasonally adjusted basis, industrial production climbed 2.2 percent monthly in May, reversing a 2.2 percent decline in April. It was the first increase in five months.

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