Latvia: Industrial production jumps in July
September 3, 2018
Industrial output jumped 3.6% in July from the same month last year, a significant improvement from June’s mere 0.4% increase. Double-digit increases in mining and quarrying, and electricity and gas supply drove the result. Meanwhile, manufacturing production also rose in annual terms, albeit modestly and in line with the previous month’s result.
Meanwhile, annual average industrial production edged down to 4.9% in July, from 5.3% in June, marking the lowest reading in a year and a half. Furthermore, in seasonally-adjusted terms, industrial production rose 1.7% month-on-month in July, accelerating from June’s 0.6% increase.
Author: Almanas Stanapedis, Research Team Manager