Latvia: Industrial output rebounds in September following dip in August
November 3, 2016
Industrial production in Latvia expanded 2.4% year-on-year in September, recovering the ground lost in August, when output had decreased 0.6%. The rebound reflected expansions in almost all sub-categories that compose the industrial production index, with the exception of electricity generation, which dropped at a double-digit rate for a second consecutive month in September.
Seasonally-adjusted month-on-month data confirmed the improvement suggested by the annual figure. Output increased 1.5% in October, which partially reversed the 1.9% drop in August.
Due to the annual acceleration, the overall trend in industrial production points to an acceleration. Annual average growth in industrial output rose from 3.1% in August to 3.2% in September.
Author: Ricardo Aceves, Senior Economist