Latvia: Industrial production accelerates in April; records strongest growth rate since December 2012
June 3, 2015
Industrial production grew a solid 10.2% over the same month last year. The reading was above the 8.7% increase recorded in March and marked the greatest increase since December 2012. April’s reading resulted from a large increase in manufacturing output, particularly the manufacture of basic metals, electronics and chemicals. The mining and quarrying sector also contributed to the acceleration.
Industrial production increased a seasonally-adjusted 1.8% over the previous month, well below the 11.2% increase observed in March.
As a result of the notable increase recorded in the two previous months, the trend now points upward. The annual average variation in industrial production rose from March’s minus 0.1% to plus 0.7% in April, reaching its highest value since November 2013.
Author: Eric Denis , Economist