Latvia: Growth in industrial production slows in October
December 7, 2017
Industrial production expanded 5.4% in October compared to the same month last year, below September’s robust 12.9% year-on-year increase. Meanwhile, annual average growth in industrial production was 9.7% in October, down from the 9.8% expansion September.
Growth in industrial production was broad-based, as all the three sub-sectors expanded robustly. Particularly impressive were the increases registered in the manufacturing of motor vehicles, trailers and semi-trailers, of chemicals and chemical products and of electrical equipment, as well as growth in electricity and gas supply.
In seasonally-adjusted terms, industrial production contracted 2.0% month-on-month in October, strongly contrasting September’s 1.3% growth.