Latvia Industry


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.

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 Chart

Latvia Industry August 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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