Latvia: Industrial production gains speed again November
January 3, 2017
Industrial production in Latvia surged 11.0% year-on-year in November, accelerating from an already solid expansion in October when output increased 6.7%. The acceleration reflected a broad-based improvement. Manufacturing output grew faster in November and electricity generation increased at a double-digit pace. Meanwhile, mining maintained a healthy growth rate in November.
A month-on-month comparison confirms the improvement suggested by the annual data. Industrial production increased a seasonally-adjusted 2.9% in November, which came in above the 2.6% rise in October.
Due to the strong annual reading, the overall trend in industrial production continues to point to an acceleration. Annual average growth in industrial output rose from 3.6% in October to 4.1% in November.
Author: Ricardo Aceves, Senior Economist