Latvia Industry July 2019

Latvia

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.

FocusEconomics panelists expect industrial production to expand 1.3% in 2019, down 0.5 percentage points from last month’s projection, and 3.0% in 2020.


Author:, Economist

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