Industrial production in August was smaller than a year ago
According to Statistics Estonia, in August 2012, the production of industrial enterprises decreased by 3% compared to August of the previous year. The decline in the production was most of all influenced by the manufacturing of electronic and metal products.
During the last months the industrial production has remained stable on the same level – a small decline compared to the same month of the previous year. In August the decrease in manufacturing was 4% compared to August 2011. The main reason for the decline in production was the high reference base in the manufacture of electronic products – the effect of this will last till September.
In August, the production did not exceed the volume of the same month of the previous year in half of the branches of industry. Among the branches of industry holding larger shares, the production fell in the manufacture of electronic and metal products by 12% and 25%, respectively. The production rose in the manufacture of electrical equipment, wood and food products.
In August 2012 compared to July, the seasonally adjusted total industrial production as well as the production in manufacturing increased by 2%. According to the information of the Estonian Institute of Economic Research, most of industrial enterprises have positive expectations for the growth of demand and production volume in the near future.
Compared to August 2011, the production of electricity increased by 4% and the production of heat by 3%.
The volume index and trend of production in manufacturing, January 2003 – August 2012 (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 | 2.4 | -5.3 | -2.8 |
| Energy production | 15.9 | 3.8 | 3.8 |
| Mining | -3.9 | -0.1 | -0.1 |
| Manufacturing | 2.0 | -6.3 | -3.7 |
| manufacture of computer, electronic and optical products | -0.6 | -13.8 | -11.5 |
| manufacture of wood and wood products | 18.9 | 9.6 | 12.2 |
| manufacture of food products | 3.0 | 1.1 | 2.5 |
| manufacture of fabricated metal products | -6.1 | -27.6 | -24.8 |
| manufacture of electrical equipment | 5.6 | 10.1 | 10.1 |
| manufacture of chemicals and chemical products | 14.0 | 2.8 | 6.2 |
| manufacture of furniture | -8.2 | -9.7 | -6.7 |
| manufacture of motor vehicles | 8.2 | -6.4 | -4.1 |
| manufacture of building materials | -4.1 | -6.2 | -4.4 |
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.