Latvia: Decline in industrial output softens in August
October 4, 2022
Industrial production declined 0.3% year on year in August (July: -2.9% yoy). Looking at the details of the release, manufacturing output dropped in August, while mining and quarrying output accelerated.
On a monthly basis, factory output rose 0.6% in seasonally adjusted terms in August, contrasting July’s 1.2% fall and marking the best result since March. Meanwhile, annual average industrial production growth fell to 4.8% in August (July: +5.2%). This signals a worsening trend in the industrial sector.