Estonia Economic Outlook
February 26, 2019Growth momentum appears to have been sustained through to the end of 2018, according to available data. Industrial production accelerated in Q4, as robust output growth in the all-important manufacturing sector more than offset tumbling mining production. Meanwhile, strong retail sales growth largely carried over into Q4, likely reflecting upbeat private consumption dynamics as unemployment fell to an over 11-year low in the quarter. Furthermore, the external sector remained resilient in Q4, as solid demand from outside the EU propelled double-digit growth in merchandise exports. Looking ahead, survey-based readings signal a slight loss of momentum in the run-up to March parliamentary elections: Consumer sentiment remained in negative territory, while business confidence dipped to an over two-year low in January.
Estonia Economic GrowthAlthough growth is seen losing some steam in 2019, it should remain sturdy nonetheless thanks to solid domestic demand. Tightening labor market conditions and easing inflation will support household consumption, while sustained capital inflows from EU cohesion funds should bolster fixed investment growth this year. Met the why particular panelists see the economy expanding 3.0% in 2019, which is unchanged from last month’s forecast, and 2.5% in 2020.
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|Exchange Rate||1.12||0.65 %||Mar 11|
|Stock Market||1,251||-0.38 %||Mar 11|
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Estonia Economic News
March 5, 2019
According to Statistics Estonia, annual working day-adjusted industrial production growth slowed from 5.4% in December to 4.7% in January.
March 1, 2019
Detailed national accounts data released by Statistics Estonia on 1 March, showed that growth gained traction at the end of last year.
February 20, 2019
Consumer prices fell 0.2% from the previous month in January, following December’s 0.3% decrease.
February 20, 2019
Estonia is set to hold a parliamentary election on 3 March, in what is expected to be a tightly contested race between the two leading political parties: the opposition Estonian Reform Party and the governing Estonian Centre Party.
February 4, 2019
According to Statistics Estonia, annual working day-adjusted industrial production growth moderated to 5.8% in December from 7.8% in November, which had marked the strongest expansion in 17 months.