Latvia Industry October 2018


Latvia: Industrial production falls again in October

December 3, 2018

Industrial output fell 1.9% in October from the same month last year, the second consecutive month of contraction (September: -1.2% year-on-year). The print marked the worst reading in nearly four years and reflected a significant contraction in the electricity and gas supply sector which more than offset higher manufacturing as well as mining and quarrying output.

Meanwhile, annual average industrial production growth fell from 3.2% in September to 2.6% October, marking a three-year low. In addition, in seasonally-adjusted terms, industrial production fell 1.3% month-on-month in October, only a slight improvement from a 3.5% contraction in September.

Latvia Industrial Production Forecast

Our panelists expect industrial production to expand 3.5% in 2019, down 0.1 percentage points from last month’s projection, and 3.1% in 2020.

Author:, Research Team Manager

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Latvia Industry Chart

Latvia Industry October 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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