In May, industrial production expanded 10.2% over the same month last year, which represented a deceleration compared to the 13.7% increase observed in April, which had marked the fastest pace observed since December 2010. The reading also contrasted market expectations, which had seen industrial output rising 13.9%. The monthly slowdown showed that manufacturing output lost steam, together with a deceleration in electricity and gas supply. In contrast, mining and quarrying rebounded in May, expanding 6.6% after five consecutive months where activity had remained in the red. A month-on-month analysis points to an even sharper deterioration than the moderation suggested by the annual figures, as industrial production contracted a seasonally-adjusted 1.3% in May, which contrasted the 3.4% expansion registered in April. As a result of the subdued May reading, the upward trend in place since November 2009 came to a stop. This halting suggests that the industrial sector will lose momentum in the coming months, with annual average growth in industrial production edging down from 15.3% in April to 15.1% in May.
Industrial production slows in May
July 4, 2011
Looking for forecasts related to Industry in Latvia? Download a sample report now.
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.