Revised Figure for Q2 Economic Growth Even Higher

(Reuters/Scanpix)
9/8/2014 9:23 AM
Category: Economy

The country's economy experienced 2.4 percent annual growth in the second quarter, according to final figures released by Statistics Estonia today.

The flash estimate from August was 2.2 percent.

According to the agency's release, the second-quarter GDP was 4.9 billion euros in current prices.

Increase in value added in professional services, science and technology, trade and the energy sector had the greatest effect on the growth. The greatest brake on growth was the lower amount of value added generated by construction, where volumes fell. The health care and transport sectors also exerted a slowing effect on GDP growth.

Goods export fell for the fourth straight quarter - due to a drop in electronics, industrial goods and chemical goods, while services export continued to grow.

The Estonian economy was bolstered by strong domestic consumer demand, which grew 4.4 percent.

Household end-consumer spending grew 3.6 percent.

Capital investments into non-current assets grew 0.7 percent in the second quarter, businesses invested more into buildings and infrastructure and less into plant and equipment.

 


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