Latvia Industry November 2015

Latvia

Latvia: Industrial production gains impetus in November

January 4, 2016

Industrial production jumped 4.3% on an annual basis in November, which came in above the 1.7% expansion observed in October. The rebound in November followed three consecutive months of deceleration and mainly reflected a notable improvement in manufacturing output. Electricity generation moderated the pace of expansion in November, while mining and quarrying contracted.

A month-on-month comparison confirms the acceleration suggested by the annual data. Output increased a seasonally-adjusted 0.3% in November over the previous month, which contrasted the 0.4% contraction observed in October.

Due to the strong momentum observed in November, the trend continues to point upward. The annual average growth rose from 2.5% in October to 3.1% in November, which is the fastest average growth since May 2013.

Following a rebound in 2014, industrial production is expected to continue expanding in 2016. Analysts surveyed by FocusEconomics Consensus Forecast expect industrial production to expand 4.1%, which is up 0.1 percentage points from last month’s projection. For 2017, the panel expects growth in industrial output to accelerate to 4.0%.


Author:, Senior Economist

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Latvia Industry November 2015

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Latvia and FocusEconomics calculations.


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