Latvia Industry April 2019

Latvia

Latvia: Industrial output tumbles in April

June 4, 2019

Industrial output dipped 2.4% in working day-adjusted year-on-year terms in April, contrasting March’s 1.5% increase. April’s deterioration reflected a profound contraction in the electricity and gas supply sector, following an already marked drop in March, as well as softer manufacturing output growth. On a more positive note, mining and quarrying output growth accelerated in April.

Meanwhile, annual average industrial production growth slowed from 0.7% in March to 0.5% in April, the weakest reading in four years. Lastly, in seasonally-adjusted terms, industrial production fell 2.0% month-on-month in April, contrasting previous month’s 0.7% increase.

FocusEconomics panelists expect industrial production to expand 2.6% in 2019, unchanged from last month’s projection, and 3.1% in 2020.


Author:, Economist

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Latvia Industry April 2019

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


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