Latvia: Industrial activity deteriorates in November
Industrial production dropped 3.4% year on year in November (October: +0.5% yoy). The figure came on the back of a decline in electricity and gas supply production. However, manufacturing output gained steam.
On a monthly basis, industrial output fell 0.9% in seasonally adjusted terms in November, contrasting October’s 1.5% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.7% in November, down from October’s minus 5.2%.