Latvia: Industrial output records slowest expansion since in a year in October
Industrial output rose 2.4% on a monthly basis in October, following September’s 5.8% increase. The figure marked the slowest reading in a year. October’s figure was partly due to slower manufacturing output growth, as well as a swing into contraction in energy and gas production. In contrast, mining and quarrying production gained steam.
On a seasonally-adjusted monthly basis, industrial output fell 1.5% in October (September: +1.4% mom). Meanwhile, annual average industrial production growth rose to 6.6% in October (September: +6.3%), signaling an improving trend in the industrial sector.