The Estonian economy expanded at a slower pace in the fourth quarter, and the rate of growth matched preliminary estimates, final data released by Statistics Estonia showed Monday.
Gross domestic product (GDP) increased a seasonally and working-day adjusted 0.9 percent sequentially in the fourth quarter, slower than the 1.6 percent gain seen in the third quarter. The latest figure matched flash estimates.
Contributing significantly to the overall growth, the value added in information and storage increased notably during the three-month period, with the support of land and water transport. Additionally, the value added of information and communication and agriculture, forestry and fishing upheld the growth.
Meanwhile, manufacturing activity, the biggest activity in Estonian economy, significantly slowed down GDP growth during the quarter.
Year-on-year, GDP advanced a working-day adjusted 3.7 percent during the final three months of 2012, following third quarter’s 3.5 percent increase.
In the whole of 2012, the economy expanded 3.2 percent compared to the previous year, the agency said.
by RTT Staff Writer
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