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: Almanas Stanapedis, Research Team Manager