Analytics, Economics, Estonia, Investments, Markets and Companies

Economic experts gave the Estonian economic climate a score of 5.4, which is 0.3 points higher than in June but still below the long term average, which is 5.8 points.

Director of the Institute Marje Josing said that experts estimate that economic growth is hampered by the shortage of skilled labour. Secondly, our own lack of competitiveness – the ability to go global export market, is the cause.

"The thinking of experts has changed. While before, the foreign market was accused, that there is no demand [the third factor in the rankings], now it is admitted that we have a lack competitive force to go to tough markets," explained Josing.

"The Estonian economy as a whole can be assessed as satisfactory, the expectations are slightly positive, but are below the level to which we are accustomed," said Josing.

Experts assessed the situation with investments in September for the sixth quarter in a row to be unsatisfactory, this time with 3.5 points (3.4 points in June).

Consumer confidence is very high and the people's shopping cart cost has fallen to a level where we were in 2011. "The fact that prices do not rise and fall at times, even, that wages are rising, the employment rate is good – it all has boosted consumer confidence," commented Josing.

Josing added that drinking milk that cheap or such a low pork price has not been seen in Estonia in years. For producers and farmers, this is very worrying, Josing estimates.