Latvia Industry October 2017


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.

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%.

Author: Massimo Bassetti, Economist

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Latvia Industry Chart

Latvia Industry October 2017 1

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

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