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Latvia: Industrial output accelerates in October

December 4, 2014

In October, industrial production expanded 1.6% over the same month last year. The reading came in slightly above the 1.3% rise observed in September and represented the second consecutive month of increase after four straight months of contraction. October’s result reflected an improvement in electricity, gas and water supply. Manufacturing slowed slightly from a 1.7% rise in September to a 1.5% expansion in October. Only mining and quarrying deteriorated over the previous month.

On a monthly basis, industrial output increased 0.6% in seasonally-adjusted terms in October, which was below the 1.3% expansion tallied in September.

Annual average growth in industrial production inched down from minus 0.9% in September to minus 1.0% in October.

FocusEconomics Consensus Forecast panelists expect industrial production to rebound in 2014 and expand 1.6%, which is unchanged from the previous month’s projection. For 2015, the panel expects growth in industrial output to accelerate to 3.8%.


Author:, Senior Economist

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Latvia Industry October 2014

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


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