Estonia's Q3 Growth Above EU Average ({{commentsTotal}})

Source: Photo: Postimees/Scanpix

Despite a meager GDP rise of 0.4 percent between the second and third quarters, Estonia's economic growth still outpaced the EU average.

Quarterly economic growth statistics for five countries have yet to come in, so the precise average is not yet known, but in a 23-country comparison, Estonia shared 7th-9th place.

Finland and Denmark matched Estonia's 0.4 percent, while Latvia had a stronger 1.2 percent. Growth was also higher in Romania, the UK, Hungary, Poland and Bulgaria.

Economies declined in Cyprus (-0.8 percent), Czech (-0.5 percent), and France and Italy (-0.1 percent).

In the Q3 year-on-year comparison, Estonia also had growth of 0.4 percent, which was near the EU average.

Growth this year has fallen below expectations, with banks and the Finance Ministry continuing to downgrade growth forecasts as the end of the year approaches.