Latvia Industrial production

Latvia

Latvia: Industrial output drops to five-month low

August 4, 2014

In June, industrial production contracted 2.0% over the same month last year. The print followed the 0.2% decrease observed in May and marked the sharpest drop in five months and the sixth contraction in the last seven months. June’s deterioration was broad-based and the only sub-category that showed an improvement was electricity and gas supply.

A month-on-month comparison corroborates the deterioration suggested by the annual data: Industrial output contracted a seasonally-adjusted 1.3% in June, which contrasted the 0.1% increase tallied in May.

Moreover, the trend continued to point downward. Annual average growth in industrial production fell from minus 0.7% in May to minus 0.8% in June.

FocusEconomics Consensus Forecast panelists expect industrial production to rebound in 2014 and expand 1.6%, which is unchanged from the previous month’s projection. For 2015, the panel expects growth in industrial output to accelerate to 3.8%.


Author:, Senior Economist

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Latvia Industrial production Chart


Latvia Industry June 2014

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Latvia and FocusEconomics calculations.


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