Eurozone member Estonia slipped into recession after posting a 0.2 percent contraction in the second quarter on the heels of 1.0-percent decline in the previous quarter, the official Statistics Estonia said Monday.
"This downturn is yet again an imported one. Our main export partners are feeling the chill and so are we. Finland is in recession, Sweden struggles and Russia is stagnating. It is as simple as that," added Peeter Koppel, investment strategist at SEB Bank in Estonia.