In May, industrial production expanded 6.0% over the same month last year, which was above the 3.8% increase tallied in April. The monthly acceleration showed that production of electricity and gas bounced back and expanded 2.4% in May (April: -11.8% year-on-year). Meanwhile, manufacturing production continued to show healthy growth. Only mining and quarrying deteriorated in May. Meanwhile, industrial output increased 1.9% in seasonally adjusted terms over the previous month, which contrasted the 1.2% drop observed in April. Despite the acceleration, the trend continues to point downwards, with annual average growth in industrial production falling from 7.9% in April to 7.4% in May.
Industrial production accelerates in May
July 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.