Latvia: Industrial production hits a 15-month high in June
August 3, 2016
Industrial production in Latvia grew 7.9% year-on-year in June, which followed a 5.4% increase observed in May. This is the strongest result since March 2015. According to the Central Statistical Bureau, June’s acceleration reflected a pick-up in manufacturing production.
Seasonally-adjusted month-on-month data showed that industrial production increased 0.7% over the previous month in June, which came in below the 2.3% expansion observed in May.
Due to the strong annual increase, the trend suggests a recovery in industrial production. Annual average growth in industrial output increased from 3.4% in May to 3.8% in June—a three-month high.
Author: Luis Lopez Vivas, Economist