Statistics Estonia revised second-quarter annual GDP growth 0.2 percentage points up to 0.8%. Regular revision of last four years was also published and led to changes in real growth rates of previous years. 2012-2014 GDP growth was revised down 0.9…
Wage growth remained rapid in the second quarter at around 8%, over the year. We expect average gross wage to rise by around 5% in 2017. In the 2nd quarter of 2016, the average monthly gross wage was 1,163 euros…
The number of inactive decreased by 19,000 people, over the year, in the second quarter of this year. In addition to tight labour market, inactivity declined due to state reforms – an increase in the retirement age and the rearrangement…
Cheaper energy and food behind the decline in prices Price growth is expected to be flat in 2016 In June 2016, consumer prices decreased by 0.4%, year on year, in Estonia. Goods were 0.6% and services 0.1% cheaper compared to…
Statistics Estonia did not revise the GDP growth of 1Q2016 with its second estimate: it remained 1.7% yoy and flat qoq (swda) in real terms. Despite the fall in prices, GDP growth reached to 3% in nominal terms (2.5% in…
SEB will begin to issue home loans to clients who are borrowing to buy, build or renovate their existing homes to make them more energy efficient and who wish to use a guarantee from KredEx for that purpose. “Any investment…
Wage growth accelerated further in the first quarter. A surge in purchasing power supports consumption but hurts enterprises’ profitability. In the 1st quarter of 2016, the average monthly gross wage was 1,091 euros in Estonia, up by 8.1% over the…
According to the flash estimate of Statistics Estonia, GDP growth in Estonia accelerated to 1.7% yoy in 1Q 2016, while compared to the previous quarter (seasonally and working day adjusted) remained flat. On the supply side, continued robust growth of…
Cheaper energy behind the decline in prices Inflation expected at around 1% in 2016 Consumer prices decreased by 0.5% in Estonia in 2015. Consumer prices declined due to lower energy prices. Motor fuels were 14%, heat energy 4%, and electricity…
The busy statistics calendar of the past weeks has not made it possible to give due attention to everything that is important. Consequently, this weekly commentary will address the foreign trade and registered unemployment statistics, were published already at the…
The strong wage increase in the third quarter is good news for a working person. Increasing employment and average wages, on the other hand, are a bit mystifying against stagnant corporate income and near-zero growth in the third quarter. Upward…
Several important economic indicators were updated last week. The new GDP flash estimate for the third quarter indicates that instead of picking up speed, as was expected at the beginning of the year, economic growth is instead beginning to freeze.…
Due to a reduction in labour taxes, average net (after tax) wages in the first half of 2015 in Estonia and Latvia rose at a quicker pace than gross wages. In Lithuania the average net wages rose a little bit…
Economic statistics for the past week revealed that the Estonian economy grew a lot more last year than was previously thought. The growth of GDP in the second quarter can also be regarded as being good. At the same time,…
Last week several updates on some important economic indicators were published. Unfortunately the news were mainly negative – industrial production is falling, orders are decreasing and employee’s pay is not growing from the company’s increasing income but from investments. Industry…
