Latvia: Industrial production gains pace in November
January 4, 2021
Industrial production increased 2.7% in year-on-year, calendar-day adjusted terms in November 2020, rebounding from October’s 1.2% fall and growing at the fastest pace since October 2019.
November’s result was primarily driven by a pick-up in manufacturing output, with growth reaching a near two-year high. Production in the mining and quarrying sector also gained traction compared to October.
On a monthly and seasonally-adjusted basis, industrial output rose 1.5% in November, following October’s flat reading. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 2.5% in November, above October’s minus 2.7%.