Latvia: Industrial production posts another weak print in April
Industrial production rose a soft 0.9% in April from the same month last year, accelerating slightly from March’s weaker 0.6% increase. Meanwhile, annual average growth in industrial production hit a one-year low of 6.9% in April, below the previous month’s 7.5%.
April’s slight uptick came on the back of stronger growth in manufacturing output. The acceleration was weighed down, however, by the sharpest contraction in the mining and quarrying sub-sector in five years and the second consecutive contraction in the electricity and gas supply sub-sector, albeit a softer one than in March.
In seasonally-adjusted terms, industrial production rebounded to 0.2% month-on-month growth in April from March’s 3.6% contraction.