Latvia: Industrial output records quickest growth since July in December
Industrial output grew 7.1% year-on-year in December (November: +1.0% yoy). December’s print marked the best result since July. The figure was partly due to faster growth in manufacturing production growth. In contrast, mining and quarrying production fell markedly.
On a seasonally-adjusted monthly basis, industrial output rose at a faster rate of 3.8% in December (November: +0.2% mom), the best result since June 2020. Meanwhile, annual average industrial production growth rose to 6.6% in December (November: +6.4%), signaling an improving trend in the industrial sector.