Latvia Industry February 2020

Latvia

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.

FocusEconomics expect industrial production to contract 3.1% in 2020, down 5.3 percentage points from last month’s projection. In 2021, industrial output is seen increasing 3.7%.


Author:, Economist

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Latvia Industry February 20 20

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Central Statistical Bureau of Latvia and FocusEconomics calculations.


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