Estonia's industrial production grew at its fastest rate in seven months in August, according to data released by Statistics Estonia on Monday. The volume of production rose by 4.5% compared to the same month last year, a notable increase from July's 2.2%. This marks the strongest production growth since January, when it increased by 5.9%.
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Key sectors contributed to this rise, with the utilities sector experiencing a substantial jump of 56.9% year-on-year in August. Additionally, mining and quarrying saw a gain of 25.3%. However, the manufacturing sector's growth was more modest, registering only a 1.2% increase year-on-year.
On a monthly basis, industrial production rose by 4.2% in August, following a smaller increase of 0.9% in July.