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Monday, September 10, 2007

Estonia Revises (Slightly) Q2 2007 Growth Estimate

Estonia has revised up its second quarter economic growth estimate which was originally released on Aug. 14. the Tallinn-based statistics office, Statistikaamet, in data released today have revised the rate up to 7.6 percent, a pace which is ever so slightly higher than the preliminary estimate of 7.3 percent.

as can be seen from the quarter by quarter chart the rate of decline is now much softer than originally thought, which is basically good news, as it reduces the chances of a hard landing in the shorter term, as discussed here, although clearly this does nothing to alter the level of risk in the longer term.

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