Estonia’s industrial production fell by 1.5% year-on-year in September 2025, slipping from a downwardly revised 0.9% growth in the previous month. This marked the first month of decline since January, as output declined for the manufacturing sector (-0.4% vs 2.4% in August), primarily due to further declines in the manufacture of leather and related products (-47.1% vs -9.4%), coke and refined petroleum products (-37.9% vs -18.5%), and machinery and equipment (-22.2% vs -2.5%). On the other hand, output continued to decrease, though at a softer pace, in the electricity, gas, steam, and air-conditioning supply sector (-18.5% vs -20.7%). Moreover, production rebounded for mining and quarrying (4.8% vs -0.5%). On a monthly basis, industrial activity fell by 1.1% in September, following a downwardly revised 1.4% increase in the previous month.