Latvia: Industrial output rebounds in March

Industrial output increased 1.5% in working day-adjusted year-on-year terms in March, contrasting February’s 3.2% fall, which had marked the worst result in over five years. March’s print reflected solid manufacturing production growth and a surge in mining and quarrying output, which more than offset yet another contraction in the electricity and gas supply sector.

Meanwhile, annual average industrial production growth remained stable at the previous month’s 0.7% in March. Lastly, in seasonally-adjusted terms, industrial production rose 0.7% month-on-month in March, down slightly from February’s 0.9% increase.

Latvia Industrial Production Forecast

FocusEconomics panelists expect industrial production to expand 2.8% in 2019, down 0.3 percentage points from last month’s projection, and 3.2% in 2020.