Latvia Industry June 2019

Latvia

Latvia: Industrial output growth hits six-month high in June

August 5, 2019

Industrial production rose 4.4% in annual working-day adjusted terms in June, up from a 1.7% year-on-year increase in May. June’s acceleration, which marked the strongest output growth since December 2018, was entirely driven by a surge in electricity and gas supply.

Meanwhile, manufacturing production growth decelerated notably from the previous month in June, largely due to tumbling manufacture of chemicals and chemical products, and machinery and equipment. This, coupled with a sharper contraction in the mining and quarrying industry, weighed on overall output growth in June.

Lastly, annual average industrial production growth edged up to1.1% in June, from 0.7% in May. Furthermore, in seasonally-adjusted terms, industrial production rose 1.6% in June, accelerating from the previous month’s 2.1% increase.

FocusEconomics panelists expect industrial production to expand 1.8% in 2019, unchanged from last month’s projection, and 3.1% in 2020.


Author:, Economist

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Latvia Industry June 2019

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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