Latvia Industry August 2019

Latvia

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.

Our panelists expect industrial production to expand 0.9% in 2019, down 0.4 percentage points from last month’s projection, and 3.5% in 2020, which is up 0.5 percentage points from previous month’s estimate.


Author:, Economist

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