An analysis by the institute was published online on Monday (October 28), several weeks later than usual. Delfi Ärileht said EKI and MKM usually put out the results jointly, but it was not possible this time.

According to Raudsepp, the analysis shows consumer confidence has dropped sharply and that families' livelihoods have worsened.

The director claimed these are results the government does not want to see. At the same time, he said he was not surprised, as no action has been taken to change the situation,

"Today, however, these results do not indicate a crisis situation," Raudsepp said.

Confidence is lowest in the trade sector, with the retail volume index having declined for an extended period. A major conclusion from the analysis is that all business sectors are forecasting price increases.

Slides published on the institute's website show that experts forecast in September that Estonia's economic climate is deteriorating.

Ministry: Press release is being prepared

MKM told ERR the Estonian Economic Institute's assessment had been read and a press release is forthcoming.

"MKM has reviewed the EKI's assessment of third-quarter economic indicators. We have consistently made the economic outlook results public, and the same approach is planned for this year's third-quarter review. When deciding on the format for release, we consider how and to what extent the results have changed compared to the previous review, as well as other economic and business-related topics on the ministry's agenda and available resources," the ministry said.

"Earlier practice has also included issuing a press release and, if necessary, holding a press conference for the reasons mentioned above, though not always. A press release explaining the third quarter's economic trends and the ministry's activities is being prepared and will reach you in the coming days," the ministry added.

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