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Latvia Industrial production December 2023

Latvia: Industrial output grows at fastest pace in over one year in December

Industrial output expanded 1.7% year on year in December (November: -2.9% yoy). December’s figure marked the best reading since November 2022. The reading reflected a broad-based upturn, with activity in the manufacturing, mining and quarrying and electricity and gas supply sub-sectors all improving in December.

On a monthly basis, factory output increased 1.2% in seasonally adjusted terms in December, contrasting November’s 0.7% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.1%, down from November’s minus 5.7% reading.

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