Latvia: Industrial output dips in July
September 3, 2019
Industrial production fell 1.3% in annual working-day adjusted terms in July, contrasting June’s robust 4.4% increase. July’s deterioration was chiefly driven by a marked slump in electricity and gas supply and a sharp contraction in mining and quarrying output.
Meanwhile, manufacturing production growth picked up slightly from the previous month in July, amid booming manufacture of electrical equipment; computer, electronic and optical products; and fabricated metal products, except machinery and equipment, which more than offset declining manufacture of chemicals and chemical products.
Lastly, annual average industrial production growth edged down to 0.7% in July, from 1.1% in the previous month. Furthermore, in seasonally-adjusted terms, industrial production fell 2.1% in July, compared to the 1.6% increase in June.
Author: Almanas Stanapedis, Economist