Uudiste arhiiv

Wages rose despite the weak growth in the economy

26.11.2015 Orsolya Soosaar

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

25.11.2015 Mihkel Nestor

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

15.11.2015 Tõnu Toompark

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

12.11.2015 Tõnu Toompark

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

04.11.2015 Tõnu Toompark

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

07.10.2015 Mihkel Nestor

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

14.09.2015 Mihkel Nestor

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

08.09.2015 Tõnu Toompark

• 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

08.09.2015 Tõnu Toompark

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

07.09.2015 Tõnu Toompark

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

02.09.2015 Tõnu Toompark

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

01.09.2015 Mihkel Nestor

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

14.09.2012 Tõnu Toompark

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

30.07.2012 Tõnu Toompark

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…

Estonian Exports Down Y-o-Y To May 2012, Nevertheless Growing

11.07.2012 Tõnu Toompark

A recent report on the Estonian Statistics Office site has stated that May 2012 saw a decrease in exports y-o-y of some eight per cent at current prices. This needs to be seen in the context of May 2011′s figures being at…

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