Production volume continues to shrink in the processing industry, by 5.7 percent on year in March.Bank of Estonia economist Kaspar Oja said that while businesses have become a little more optimistic, production will not grow notably in the near future.
Production volume has been shrinking for 22 consecutive months in the processing industry.Once again, the timber industry was the fastest to contact in March.
Kunda-based pulp millEstonian Cellsaid Monday that it made a loss of €23 million last year, and that it was forced to temporarily shut down its factory and lay off staff as a result.
Read more: ERR.EE
