Friday, February 25, 2011

Estonian Industrial Orders More Than Double

The recovery in Estonia from its recent depression seems to accelerate more and more as industrial orders rose as much as 26.4% in December from the previous month, something that caused the annual rate of increase to increase from an already very high 59.3% to 114.8%.

While it is possible that some of this extraordinary increase reflects one time factors, and while the overall economy will grow a lot slower than the industrial sector as the service sector is less cyclical, this certainly suggests that Estonia's overall growth will accelerate further in the near future.