In October, industrial production surged 21.1% over the same month last year, which was above the 19.5% expansion observed in September. The reading represented the fastest annual growth observed since records began in 2001. October's rapid pick-up was helped by a low base of comparison, as industrial production contracted 13.3% in October 2009. The October result was mainly driven by a strong expansion in manufacturing (September: +20.2% year-on-year; October: +25.1% yoy). Simultaneously, mining and quarrying grew 18.2% annually, which was above the 15.4% increase tallied in September. Only electricity and gas supply decelerated sharply compared to the previous month (September: +16.6% yoy; October: +3.8% yoy). A month-on-month comparison confirms the robust performance suggested by annual figures, with industrial output rising 1.2% over the previous month in seasonally adjusted terms, which contrasted the 1.8% fall observed in September. The trend continues to point to a strong recovery, with the annual average growth in industrial production jumping from 8.0% in September to 10.8% in October, which marked the fastest pace in nearly a decade.
Industrial production rebounds in October
December 6, 2010
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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.