In September, industrial production grew 3.1% over the same month last year, which represents a significant slowdown compared to the revised 9.4% expansion recorded in August (previously reported: +8.1%). The print marks, in fact, the slowest pace recorded since February 2010. The subdued reading resulted from slower growth in manufacturing production, coupled with a continuing deterioration in the mining and quarrying as well as the electricity generation sectors. A month-on-month comparison confirms the significant deceleration suggested by the annual figures, as industrial production contracted a seasonally adjusted 2.8% in September, which marks a complete reversal of the revised 2.6% increase observed in August (previously reported: +2.0% month-on-month) and represents the lowest reading since July 2009. As a result of the deterioration, the trend reversed its upward trajectory, with annual average growth in industrial production dropping from 6.8% in August to 6.2% in September.
Industrial output grows at slowest pace since February 2010
November 5, 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.