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Flash comment: Estonia - February 10, 2012
10-02-2012 14:26
Economic growth slowed significantly in the last quarter of 2011
- According to preliminary estimates, economic growth slowed significantly in the fourth quarter of last year. For the first time in two years, a quarterly GDP decline was reported, namely by 0.8%. As a result, the annual growth slowed to 4%.
- Slower growth was founded on slowdown in exports and manufacturing output due to weaker external demand, likely disruptions in supply chain as well as overall fall in confidence. On the other hand, domestic demand continued to strenghten with retail and construction sectors showing high growth rates.
