Latvia: Industrial production loses pace in January
March 8, 2021
Industrial production rose 2.8% in year-on-year, calendar-day adjusted terms in January, below the 4.7% jump logged in December 2020.
January’s slowdown was driven by softer output growth in the mining and quarrying, and manufacturing sectors. Meanwhile, energy supply production rebounded in January.
On a monthly and seasonally-adjusted basis, industrial output declined 1.5%, contrasting December 2020’s 0.8% increase. Lastly, the trend improved, with the annual average variation of industrial production coming in at minus 1.4% in January, up from December’s minus 1.7%.