Latvia: Industrial production rebounds in December
February 4, 2019
According to Latvia’s Central Statistical Bureau, industrial output jumped 4.5% in working day-adjusted year-on-year terms in December, compared to a 0.6% contraction in November. The print marked the first output growth since August and reflected a significant improvement in the electricity and gas supply sector, as well as healthy growth in the manufacturing, and mining and quarrying sectors.
Meanwhile, annual average industrial production growth edged down to an over three-year low of 2.2% in December, from 2.3% in the previous month. In seasonally-adjusted terms, industrial production rose 3.3% month-on-month in December, accelerating from November’s meager 0.9% increase and marking the strongest reading in 10 months.
Author: Almanas Stanapedis, Economist