Latvia Industry July 2017

Latvia

Latvia:

September 4, 2017

Industrial production increased 8.8% in July compared to the same month last year, above June’s 7.4% year-on-year increase. Meanwhile, annual average growth in industrial production was 7.8% in July, up from the 7.3% expansion recorded in June and the highest rate since May 2012.

Industrial production grew at a faster annual rate in July than in June because of an acceleration in mining and quarrying, which expanded at its fastest rate since April 2014, and a rebound in electricity and gas. Conversely, growth in the manufacturing sector slowed in July.

In seasonally-adjusted terms, industrial production swung from a 0.4% month-on-month contraction in June to a 0.1% expansion in July.

Analysts surveyed by FocusEconomics expect industrial production to expand 5.7% in 2017, which is up 1.1 percentage points from last month’s projection. For 2018, the panel expects growth in industrial output to expand 4.3%.


Author:, Economist

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Latvia Industry July 2017

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


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