Uudiste arhiiv


Economic growth in Estonia decelerates sharply in the 2H2015


According to the second estimate by the Statistics Estonia, the GDP growth in Estonia decelerated to 0.7% yoy in 3Q2015, while compared to the previous quarter the GDP decreased by 0.4% (seasonally and working-day adjusted). Primarily construction, transport and manufacturing

Wages rose despite the weak growth in the economy

Eesti Pank

Both seasonally adjusted quarterly wage growth and average annual wage growth were faster than in the second quarter Wages in accommodation and catering rose by 16.9% Data from Statistics Estonia show that the average gross monthly wage was up 6.9%

Economic growth or economic standstill

SEB Pank

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.

Labour market has tightened further


Finding suitable labour is increasingly difficult for Estonian employers, therefore, wage pressures persist even when enterprises sales and profits have decreased. Labour shortage was perceived as the biggest business constraint among the 18% of service, 17% of construction, and 14%

GDP growth smaller than expected


GDP growth slowed more than expected, from 1.9% in the second quarter to 0.5% in the third quarter, year on year. Quarter-on-quarter change in GDP volumes was negative: -0.5%. During the first 9 months of the year, GDP in Estonia

Large Estonian enterprises’ optimism over doing business has grown

SEB Pank

SEB’s pan-Baltic survey of CFOs of large enterprises indicates an improved assessment of the business climate; however, Estonian enterprises remain more conservative in their forecasts than their neighbours to the south. The main concerns for large Estonian enterprises are low

Eastern European Outlook, October 2015

SEB Pank

The dual-track economic picture in Eastern (including Central) Europe will persist over the next two years. Conflict-plagued Russia and Ukraine will show continued weakness. In Russia, recession will linger during 2016 too, as plunging oil prices rebound only weakly and

Moderate economic growth, yet risks have increased

SEB Pank

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,

Swedbank flash comment Estonia : Weak foreign demand inhibits the economic growth in Estonia


• GDP real growth 2% in the second quarter • Main contribution from private consumption, but investments decreased • Economic activities dependent on foreign demand (transportation and manufacturing) had the largest negative contribution to the GDP growth • Exports decreased

SEB: The gap between industry and trade is widening

SEB Pank

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

Swedbank: The Estonian Economy


Why worry about wage growth?  Wage growth accelerated again Not sustainable in the longer term Exports have to recover Wage growth accelerated again Gross wage growth has been around or above 5% since 2011. In the first half of 2015,

Swedbank: Wage growth accelerated


Monthly gross wages amounted to 1,082 euros, +5.8%, yoy, in Q2. At the same time, net wages were up by 7.3% in real terms because of 0% inflation and lower labour taxes. The growth of gross wages accelerated from 4.5%

Employee numbers rising in spite of declining sales

SEB Pank

The ending week will be remembered by many for the nervous decline of the stock markets. Despite these uncertain times, the global economy is on track for growth. In Estonia, initial data published for the economic performance of businesses in

DTZ Property Times Baltic Industrial/Logistic H1 2012

Positive trends have been noticed in Estonian and Lithuanian industrial and warehouse markets. However, Latvia is experiencing slower growth in sector’s investment transactions. Industrial and warehouse sector has reached to slight increase phase, nevertheless, rapid increase in demand towards newly

Estonia’s Credit Rating Affirmed At A1 By Moody’s

Bond credit raters Moody’s Investor Services have affirmed Estonia’s A1 government bond rating and stable outlook. As reported on this blog, Fitch had already upped Estonia’s rating to A+, so this is more good news. The rating was based on factors including the

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