Latvia: Industrial output contracts again in August
October 6, 2014
In August, industrial production contracted 0.4% over the same month last year. The print followed the 1.5% decrease observed in July and marked the 8th contraction in the last nine months. August’s contraction was broad-based and the only sub-category that showed an increase was electricity and gas supply.
A month-on-month comparison showed that industrial output contracted a seasonally-adjusted 0.2% in August, which contrasted the 1.4% expansion observed in July.
Annual average growth in industrial production inched up from minus 1.2% in July to minus 1.0% in August.
Author: Ricardo Aceves, Senior Economist