Latvia Industry


Industrial production remains weak in October

In October, industrial production increased 3.1% over the same month last year, which mirrored the expansion recorded in September. The print, together with September's figure, represents the weakest increase since February 2010 and mainly reflected a deterioration in mining and quarrying as well as in electricity, which was nearly offset by an acceleration in manufacturing production.

A month-on-month comparison points to a sharper deterioration, as industrial production contracted a seasonally adjusted 0.3% in October, which followed the 2.9% decline recorded in September. As a result of the subdued annual reading, the trend continues to point downwards, with annual average growth in industrial production inching down from 6.2% in September to 6.1% in October.

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Latvia Industry Chart

Latvia Industry October 2012

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Central Statistics Bureau and FocusEconomics calculations.

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