Revised Q3 Growth Figure Offers Some Consolation

12/9/2013 1:19 PM
Category: Economy

Finance Ministry analyst Madis Aben said the upgrade to third quarter GDP growth announced today means Estonia's 2013 growth figure will at least reach the 1 percent mark.

Statistics Estonia today revised third quarter growth to 0.7 percent, up from a 0.4 percent flash estimate. The figure is still not stellar, but provides some optimism.

"Real economic growth in the third quarter was below the Finance Ministry's summer forecast, but nominal growth, which is more important from the perspective of state budget revenue, was consistent with the forecast," Aben said.

He said indicators that external demand would increase in the new year also provided hope that more growth was in store.

Financial institutions have been downgrading forecasts for several quarters, in response to economic growth falling below expectations.

In September, the Finance Ministry predicted annual growth of 1.5 percent, which was released before the meager Q3 growth estimate. In November, Aben said the year's GDP growth was likely to deteriorate further.


The name field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 1024 characters
{{error}}

Message forwarded to the editor

This Ip-address has limited access

See also

There are no comments yet. Be the first!

Reply to comment

+{{childComment.ReplyToName}}:
Reply to comment
Reply

Laadi juurde ({{take2}})
The name field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 1024 characters
{{error}}
Add new comment