In August, industrial production grew 8.1% over the same month last year, which represented an acceleration compared to the 5.3% expansion recorded in July. The print represents the fastest pace since March and was mainly the result of stronger growth in manufacturing production. In contrast, mining and quarrying deteriorated notably over the previous month. A month-on-month comparison confirms the acceleration suggested by the annual figures, as industrial production expanded a seasonally adjusted 2.0% in August, which was well above the revised 0.3% increase observed in July (initially reported: +0.2% month-on-month). As a result of the acceleration, the trend halted its almost uninterrupted downward trajectory in place since July 2011, with annual average growth in industrial production stepping up from 6.6% in July to 6.7% in August.
Industrial output accelerates at fastest pace in five months
October 4, 2012
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Latvia Industry Chart
Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Central Statistics Bureau and FocusEconomics calculations.
Latvia Economic News
October 10, 2016
In September, consumer prices increased 0.4% from the previous month, which contrasted August’s 0.6% decrease.
October 4, 2016
Industrial production in Latvia contracted 0.6% year-on-year in August, which contrasted the 2.6% increase in July.
September 8, 2016
In August, consumer prices fell 0.6% over the previous month and came in below July’s 0.3% decrease.
September 5, 2016
Industrial production in Latvia grew 2.7% year-on-year in July, which was down from 7.9% increase in June.
August 31, 2016
In the second quarter, Latvia’s economy increased 2.1% year-on-year, according to a revised set of data released by the Statistical Institute on 31 August.