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Bank: The economic downturn is starting to hit home on the Estonian residents

Bank: The economic downturn is starting to hit home on the Estonian residents
estonianworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from estonianworld.com Daily Mail and Mail on Sunday newspapers.

Mihkel nestorEuropean union

Rapid wage growth to continue in Estonia

Prevailing labor shortages, rapid inflation and businesses' strong financial results for 2022 have brought with them a large increase in the average wage in Estonia, which is likely to continue for some time, Mihkel Nestor, analyst at SEB Estonia, says.

Mihkel nestorDmitri kotjuhStatistics estonia

Market for new builds sluggish in face of rising construction prices

The number of building permits issued for new apartments in Tallinn in the first quarter of 2022 fell to almost a quarter of the figure recorded at the same time last year, while a sharp rise in construction prices have also made real estate developers more cautious.

Elari tammMihkel nestorMarco varaReal estateReal estate market

Forecasts: Consumption growing despite inflation

While wages will continue to grow in 2022, prices will balloon faster still, the Bank of Estonia and commercial banks SEB and Swedbank find in their recent forecasts. Retail trade and services are nevertheless forecast to continue growing in volume, suggesting that consumers remain confident.

Mihkel nestorKeit pentus rosimannusFinance keit pentus rosimannusEconomic growthEconomic forecasts

Analysts no longer forecasting inflation to slow

While analysts forecast price advance to slow down in the second half of the year, Russia's attack on Ukraine has created new uncertainty, with the prices of energy and food now believed to continue growing.

Mihkel nestorKristo aabStatistics estoniaEconomic growthConsumer price indexPrice advance

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