Latvia: Industrial output edges up in February
April 3, 2020
Industrial production rose 0.8% in annual working-day adjusted terms in February, after falling 4.5% in January, which had marked the sharpest contraction in industrial output in over ten years.
February’s mild upturn was driven by strong output growth in the mining and quarrying, and energy and water supply sectors. On a less positive note, activity in the all-important manufacturing sector fell for the fourth consecutive month in February, although the pace of contraction eased considerably from the opening month of the year.
In seasonally-adjusted month-on-month terms, industrial production jumped 3.0% in February, following a 1.9% contraction in January. Meanwhile, annual average industrial production growth edged up to 0.8%, from 0.5% at the outset of the year.
Author: Almanas Stanapedis, Economist