Latvia Industry November 2018

Latvia

Latvia: Industrial production continues to fall in November

January 3, 2019

According to Latvia’s Central Statistical Bureau, industrial output fell 0.6% in working day-adjusted year-on-year terms in November, improving somewhat from the 1.9% drop recorded in October. The print marked the third consecutive month of contraction and reflected a marked drop in electricity and gas supply, which more than offset healthy growth in the manufacturing as well as mining and quarrying sectors.

Meanwhile, annual average industrial production growth decelerated to an over three-year low of 2.2% in November, from 2.6% in the previous month. Lastly, in seasonally-adjusted terms, industrial production rose 0.9% month-on-month in November, recovering from October’s 1.3% contraction.

Our panelists expect industrial production to expand 3.5% in 2019, unchanged from last month’s projection, and 3.1% in 2020.


Author:, Economist

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Latvia Industry November 2018

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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