Latvia Industry August 2018


Latvia: Industrial production growth hits a six-month high in August

October 4, 2018

Industrial output soared 6.5% in August from the same month last year, up markedly from July’s 3.6% increase. August’s print marked the third consecutive month of accelerating output growth and the strongest reading in six months. The improvement was partly driven by increased production in the electricity and gas supply sector. Manufacturing production, meanwhile, rose at a faster pace than in the previous month, propping up the headline figure.

Meanwhile, annual average industrial production moderated to 4.4% in August from 4.9% in July, marking a near two-year low. Furthermore, in seasonally-adjusted terms, industrial production rose 2.3% month-on-month in August, picking up pace from July’s 1.7% increase.

Analysts surveyed by FocusEconomics expect industrial production to expand 4.3% in 2018, which is up 0.2 percentage points from last month’s projection. For 2019, the panel expects growth in industrial output of 3.9%, unchanged from previous month’s forecast.

Author:, Research Team Manager

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Latvia Industry Chart

Latvia Industry August 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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