Latvia: Industrial output growth gains momentum in July
September 3, 2021
Industrial output grew 8.4% in year-on-year terms in July, which was above June's 7.6% increase. Looking at the details of the release, mining and quarrying output gathered steam from the previous month, while energy production rebounded solidly. That said, manufacturing production grew at a slower pace in July.
On a seasonally-adjusted monthly basis, factory output rose at a softer pace of 0.8% in July (June: +1.3% mom). Meanwhile, annual average industrial production growth rose to 4.9% in July (June: +4.3%), signaling an improving trend in the industrial sector.