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.
Author: Ricardo Aceves, Senior Economist