The growth of industrial production slowed down abruptly in September
According to Statistics Estonia, in September 2011, the production of industrial enterprises grew 6% compared to the same month of the previous year. The slowdown in production was most of all influenced by the manufacturing of electronic products.
If at the beginning of the year the production of industrial enterprises grew by around 30%, then since May the growth slightly slowed down compared to the same month of the previous year. During previous months the reason for the slowdown was mainly the slowly growing comparison basis, but in September the growth in the manufacturing of electronic products slowed down shortly.
In September 2011, the production of manufacturing increased by 7% compared to September of the previous year. Export sales influenced the growth in production the most – about 70% of the whole production of manufacturing was sold on the external market.
In September, the production exceeded the volume of the same month of the previous year in most branches of industry. As before, manufacturing of electronic products influenced the growth in production the most. When during previous months the production in this branch increased two or three times, then in September the growth was only 6%. Nearly one fourth of the total production volume of manufacturing was produced in this branch within previous months, but in September the share was 15%. The branches of industry also holding bigger shares were the manufacturing of wood, food and metal products where production grew 7%, 2% and 10%, respectively. With respect to the branches of industry holding smaller shares, production increased more than 10% in the manufacturing of machinery and equipment, electrical equipment, chemicals and motor vehicles. The production decreased in the manufacturing of building materials and petroleum products.
In September 2011 compared to August, the seasonally adjusted total industrial production decreased 11%, in manufacturing the decrease was 12%.
Compared to September 2010, the production of electricity decreased 1% and the production of heat 16%.
The volume index and trend of production in manufacturing, January 2002 – September 2011 (2005 = 100)
| Economic activity | Change compared to the previous month according to seasonally adjusted dataa | Change compared to the corresponding month of the previous year | |
|---|---|---|---|
| according to unadjusted data | according to working-day adjusted datab | ||
| TOTAL | -11.0 | 5.5 | 5.5 |
| Energy production | -10.8 | -4.3 | -4.3 |
| Mining | -0.4 | 7.9 | 7.9 |
| Manufacturing | -11.6 | 6.5 | 6.5 |
| manufacture of computer, electronic and optical products | -48.1 | 6.1 | 6.1 |
| manufacture of wood and wood products | 1.7 | 6.9 | 6.9 |
| manufacture of food products | 0.4 | 1.6 | 1.6 |
| manufacture of fabricated metal products | -12.3 | 10.0 | 10.0 |
| manufacture of electrical equipment | -5.0 | 10.5 | 10.5 |
| manufacture of chemicals and chemical products | 1.5 | 10.4 | 10.4 |
| manufacture of motor vehicles | 10.3 | 10.8 | 10.8 |
| manufacture of machinery and equipment | -4.1 | 16.4 | 16.4 |
| manufacture of rubber and plastic products | 0.6 | 2.8 | 2.8 |
| manufacture of building materials | -9.3 | -4.1 | -4.1 |
a In case of the seasonally adjusted volume index of industrial production, the impact of the differing number of working days in a month and seasonally recurring factors have been eliminated. It is calculated only in comparison with the previous period.
b In case of the working-day adjusted volume index of industrial production, the impact of the differing number of working days in a month has been eliminated. It is calculated only in comparison with the corresponding period of the previous year.