Estonia's third-quarter growth revised to 5%

[Äike]

Estonia's third-quarter growth revised to 5% (http://balticbusinessnews.com/article/2010/12/09/Estonia-s-third-quarter-growth-revised-to-5)

Statistics Estonia announced today that it had revised Estonia's economic growth to 5% in the third quarter year on year, up from the preliminary estimted of 4.7%.

Third-quarter growth was led by exports, higher inventory-building and growing private demand. It's the fastest increase since the fourth quarter of 2007.

Output grew a seasonally adjusted 0.7 percent from the previous quarter, compared with a preliminary estimate of 0.5 percent.

According to a central bank forecast, Estonia's economy may grow 2.5 percent this year and 4.2 percent in 2011 after shrinking by almost a fifth from its peak in 2007. Demand for Estonian electronics and machinery in Sweden and Finland is powering the recovery, while unemployment and high levels of private debt have depressed domestic demand.

Shipments of goods, such as wireless network gear for Stockholm-based Ericsson AB and wind generators for Zurich-based ABB Ltd., rose an annual 36 percent in the third quarter, after a 29 percent increase in the previous three months.

Household spending rose 1 percent due to higher spending on cars and household appliances, compared with a 3 percent decline. Domestic demand was mainly powered by inventory- building of goods and raw materials, the office said.

Investment declined 10 percent compared with a decline of 17 percent.

[esaima]

Last year, 32,500 Estonians, or 7 percent of the workforce, daily worked shifts that were longer than 10 hours, reported Statistics Estonia.

Fifty-six percent of the workforce has at one point worked for longer than 10 hours at once.

In service and sales professions, the portion of employees working that much was 16 percent. Conversely, only 3 percent of senior officials and high-level specialists worked more-than-10-hour days, reported Postimees.

Figures differed little between men and women, as 8 percent and 6 percent, respectively, worked such long hours daily.

http://news.err.ee/economy/8fc2ade5-23d4-481f-9145-10c81fb4fdc0

Aye, how Nordic...

Our government (and some Estonian Apricity) member like to talk only about macroeconomics.
How is this mystical "Estonian success" in real life?How everyday-life people feel it, that is an other question.

[Äike]

Last year, 32,500 Estonians, or 7 percent of the workforce, daily worked shifts that were longer than 10 hours, reported Statistics Estonia.

Fifty-six percent of the workforce has at one point worked for longer than 10 hours at once.

In service and sales professions, the portion of employees working that much was 16 percent. Conversely, only 3 percent of senior officials and high-level specialists worked more-than-10-hour days, reported Postimees.

Figures differed little between men and women, as 8 percent and 6 percent, respectively, worked such long hours daily.

http://news.err.ee/economy/8fc2ade5-23d4-481f-9145-10c81fb4fdc0

Aye, how Nordic...

Our government (and some Estonian Apricity) member like to talk only about macroeconomics.
How is this mystical "Estonian success" in real life?How everyday-life people feel it, that is an other question.

Working so much is their own free choice.

"Tee tööd ja näe vaeva, siis tuleb ka armastus."

You're an unique specimen indeed, hating that your own country is successful.

If you fantasize about living in some kind of poor underdeveloped country, which is the opposite of Estonia, then you could move to Russia, Ukraine or be very extreme and move to Zimbabwe.

[esaima]

Working so much is their own free choice.
I´d rather say "choise", not choise. They have two alternatives:
to work 10 hours or more
or
to get fired.
There are no strong trade unions/no trade unions at all in Estonia who could protect them.You think this situation is very Nordic?:rolleyes: