Latvia Industry August 2021

Latvia

Latvia: Industrial output records six-month low in August

October 4, 2021

Industrial output increased 3.7% in year-on-year terms in August, moderating from July's 8.4% rise and marking the lowest reading since February. August’s reading was largely due to a decline in electricity and gas supply output while manufacturing production remained steady.

On a seasonally-adjusted monthly basis, industrial output fell 2.0% in August (July: +0.7% mom). Meanwhile, annual average industrial production growth rose to 5.5% in August (July: +4.9%) signaling an improving trend in the industrial sector.

FocusEconomics panelists expect industrial production to increase 5.9% in 2021, which is down 0.2 percentage points from last month’s forecast. In 2022, industrial output is seen expanding 4.0%.


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Latvia Industry August 2021

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.


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