Latvia: Industrial production rebounds in August
October 4, 2019
Industrial production rose 2.0% in annual working-day adjusted terms in August, rebounding from July’s 1.3% dip.
August’s upturn was chiefly driven by a firm rebound in electricity and gas supply. Meanwhile, manufacturing output growth slowed to a near-standstill in August, amid slumping production of wearing apparel, beverages and, chemicals and chemical products. Lastly, mining and quarrying output contracted again in the same month, weighing on the overall result.
In seasonally-adjusted terms, industrial production climbed 3.0% in August, from 2.1% in July. That said, annual average industrial production growth edged down from 0.7% in July to 0.3% in August.
Author: Almanas Stanapedis, Economist