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Latvia Industrial production November 2022

Latvia: Industrial output notches quickest growth since May in November

Industrial output rose 4.5% year on year in November (October: -2.7% yoy). November’s figure marked the best reading since May. The notable rebound was largely driven by recoveries in manufacturing and electricity and gas supply output. Less positively, mining activity shrank at the steepest rate since April 2011.

On a monthly basis, industrial output rose 3.5% in seasonally adjusted terms in November, which was notably better than Octobers 0.1% expansion. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 3.4% in November, down from October’s 3.8% reading.

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