FX.co ★ Estonian Industrial Production Plunges 9.5%

Estonia's industrial production continued to decline sharply in July, though the pace of contraction softened from June, data from Statistics Estonia showed on Monday.

Industrial production plunged a calendar-adjusted 9.5 percent year-on-year in July, slower than the 12.9 percent slump in the previous month. Production has been falling since June last year.

Among the main sectors, electricity production decreased the most by 33.6 percent over the year, followed by mining with a 20.7 percent drop. Output produced in the manufacturing sector was 7.0 percent lower.

On a seasonally adjusted basis, industrial production fell at a faster pace of 3.7 percent monthly in July versus a 1.6 percent decrease a month ago.