Latvia: Industrial output contracts in November
January 3, 2020
Industrial production fell 0.2% in annual working-day adjusted terms in November, contrasting October’s 3.0% expansion.
November’s reading was largely driven by a contraction in the manufacturing sector, amid falling manufacture of wood and products of wood and cork as well as shrinking manufacture of food products. Meanwhile, electricity and gas supply expanded at a much slower pace in November, while mining and quarrying output contracted at a slightly slower pace compared to the previous month.
In seasonally-adjusted month-on-month terms, industrial production fell 1.2% in November, following October’s 2.3% contraction. Meanwhile, annual average industrial production growth was stable at 1.3% in November.
Author: Hanna Andersson, Economist