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Latvia Industry September 2020

Latvia: Industrial production contracts again in September

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%.

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