Latvia: Industrial production contracts again in September
November 3, 2020
Industrial production output dropped 2.8% in year-on-year, calendar-day adjusted terms in September, slightly softer than August’s 2.9% fall.
September’s result was mainly driven by a milder decline in manufacturing production and a considerable pickup in mining and quarrying output. The electricity and gas sector, on the other hand, contracted at a sharper pace than in August.
On a monthly and seasonally-adjusted basis, industrial output rose 0.5% in September, rebounding from August’s 0.5% dip. Meanwhile, the trend deteriorated, with the annual average variation of industrial production coming in at minus 2.3% in September, below August's minus 1.5%.