Latvia: Industrial production jumps in July

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.

Analysts surveyed by FocusEconomics expect industrial production to expand 4.1% in 2018. For 2019, the panel sees industrial output growing 3.8%.