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.
Author: Almanas Stanapedis, Economist