Latvia Industry


Latvia: Growth in industrial production remains solid in August

October 5, 2015

Industrial production increased 6.4% on an annual basis in August, which came in below the whopping 8.3% expansion observed in July. The moderation in August, although still solid, stemmed from a sharp deceleration in manufacturing production. Conversely, mining and quarrying as well as electricity generation showed notable accelerations compared to the previous month.

On a sequential basis, industrial production swung from a seasonally-adjusted 2.8% increase in July to a 1.5% contraction in August.

As a result of the still-strong growth in August, the trend continues to point upward, with the annual average growth rising from 2.3% in July to 2.9% in August, which is the best performance since May 2013.

Following a contraction in 2014, industrial production is expected to recover this year. Analysts surveyed by FocusEconomics Consensus Forecast expect industrial production to rebound in 2015 and expand 3.7%, which is up 0.9 percentage points from last month’s projection. For 2016, the panel expects growth in industrial output to accelerate to 4.1%.

Author:, Senior Economist

Sample Report

Looking for forecasts related to Industry in Latvia? Download a sample report now.


Latvia Industry Chart

Latvia Industry August 2015

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

Latvia Economic News

More news

Search form