Latvia Industry September 2016

Latvia

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.

Industrial production is expected to continue expanding through the rest of this year. Analysts surveyed by FocusEconomics expect industrial production to expand 3.7%, which is up 0.3 percentage points from last month’s projection. For 2017, the panel expects growth in industrial output to slow to 3.6%, which is unchanged from last month’s forecast.


Author:, Senior Economist

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Latvia Industry September 2016

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Latvia and FocusEconomics calculations.


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