The expansion in October marks the 14th straight month of growth, although the annual expansion in the tenth month was the slowest since November 2016.
Estonian will be the fastest growing economy in the Baltics this year, the European Commission predicted in its autumn economic forecast released on November 9.
Latvia's consumer price index (CPI) grew 2.8% y/y in October, data released by the country's Central Statistical Bureau (CSB) on November 8 showed.
EBRD markedly hikes its forecasts for economic growth in Emerging Europe after assessing the arrival of expansion that is so strong that it is already running up against structural constraints.
The annual growth in September adds 0.8pp to the very strong August reading of 12.1% y/y, supporting forecasts that the Latvian economy is shifting to a higher gear in 2017.
Aside from their reforming zeal, the top performers from the CEE/CIS region on the World Bank’s latest Doing Business index have another thing in common: they all have populations of under 4mn.
Although retail sales growth in Estonia is relatively slow, it is fuelled by the increase in wages which grew 6.8% y/y in the second quarter
Industrial production in Estonia has been slowing for three consecutive months now, but the overall positive trend reinforces earlier forecasts that the Estonian economy is well on track to pick up speed