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Latvia Industrial production June 2023

Latvia: Industrial activity falls at softer pace in June

Industrial output dropped 5.0% year on year in June (May: -8.4% yoy). The reading was partly due to a softer fall in manufacturing output. In contrast, mining and quarrying declined faster than in the prior month.

On a seasonally adjusted monthly basis, industrial production rose 0.6% in June (May: -1.2% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 2.5%, down from May’s minus 1.7%.

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