Latvia: Growth in industrial production moderates in January
March 6, 2018
Industrial production expanded 4.2% in January compared to the same month last year, coming in below December’s stronger 5.5% year-on-year increase. Meanwhile, annual average growth in industrial production came in at 8.5% in January, matching December’s print.
Growth in industrial production was fueled by robust expansions in the manufacturing, and mining and quarrying sub-sectors, and by a slight increase in production in the electricity and gas supply sub-sector. Particularly notable increases were registered in the manufacturing of motor vehicles, trailers and semi-trailers, chemicals and chemical products, and electrical equipment.
In seasonally-adjusted terms, industrial production dropped 1.6% month-on-month in January, contrasting December’s 1.2% expansion.
Latvia Industrial Production Forecast
Analysts surveyed by FocusEconomics expect industrial production to expand 4.3% in 2018, which is unchanged from last month’s projection. For 2019, the panel expects growth in industrial output to expand 4.1%.