Latvia: Industrial production deteriorates for the fourth consecutive month
April 2, 2015
In February, industrial production contracted 1.6% over the same month last year. The contraction followed the 3.5% drop observed in January and marked the fourth consecutive drop in Latvia’s industrial production. February’s deterioration resulted from a large contraction in electricity production and gas supply, which was only partially offset by an increase in the mining and quarrying sector.
A month-on-month comparison paints a better picture of industrial production than the annual data. Industrial production rose a seasonally-adjusted 1.5% over the previous month, which contrasted the 3.1% decrease observed in January.
Meanwhile, the annual average variation in Industrial production in February was unchanged at January’s minus 0.9%.
Author: Eric Denis , Economist