Latvia: Industrial output grows at a double-digit pace again in December
February 3, 2017
Industrial production was 11.5% higher in December than in December 2015 and followed an equally rock-solid 11.2% expansion in November. December’s expansion, the fastest in five and a half years and the second strongest in the EU after Croatia, was the result of strong gains in manufacturing output and mining activity. Meanwhile, growth in electricity generation slowed compared to November, but still managed to increase at a double-digit pace.
In seasonally-adjusted terms, industrial production increased 0.2% from the previous month in December. This was slower than the notable 2.8% expansion in November.
Latvia’s industrial production increased 4.9% in 2016 as a whole, picking up speed from the 3.5% expansion in 2015.
Author: Ricardo Aceves, Senior Economist