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Latvia Industrial production January 2024

Latvia: Industrial activity records largest decrease in 10 months in January

Industrial production declined 5.0% year on year in January (December: -1.2% yoy). The figure was partly driven by a deterioration in manufacturing output, as it recorded the weakest reading since May 2023. In addition, mining and quarrying production decelerated.

On a seasonally adjusted monthly basis, industrial output fell 2.7% in January (December: +1.2% mom). Meanwhile, the trend improved modestly, with the annual average variation of industrial production coming in at minus 7.2%, up from December’s minus 7.3% reading.

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