Estonia retail sales rise in October, economy growth slows in Q3

Retail

Estonia retail sales increased in October, data from Statistics Estonia (SE) showed on Tuesday.

Retail sales, excluding motor vehicles and motorcycles trade, rose 10% year-on-year in October.

The biggest increase was seen in stores selling manufacturing goods, by 16% and stores selling household goods and appliances, hardware and building materials rose 21%. On a monthly basis, retail sales fell 2% in October.

On a seasonally adjusted basis, retail sales gained 1% monthly in October. In a separate statement, the Tallinn-based agency said the Estonian economy advanced 8.6% year-on-year in the third quarter of 2021, slowing from an upwardly revised 13.0% surge in the previous period, amid diminishing low base effects last year.

On a seasonally adjusted quarterly basis, the gross domestic product (GDP) expanded by 0.7% in Q3, following a downwardly revised 2.3% growth in the previous quarter. 

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