Latvia Industry July 2020

Latvia

Latvia: Industrial production rebounds in July

September 3, 2020

Industrial production output rose 0.1% year-on-year in July, rebounding from June’s 0.3% contraction and marking the best result in five months.

July’s upturn was largely driven by faster growth of mining and quarrying production and a rebound in manufacturing output.

On a monthly basis, industrial output decreased 0.8% in seasonally-adjusted terms in July, which contrasted June’s 7.5% expansion. Meanwhile, the trend pointed up, with the annual average variation of industrial production coming in at minus 1.1% in July, slightly above June's minus 1.2%.

FocusEconomics panelists expect industrial production to fall 5.4% in 2020, which is up 1.7 percentage points from last month’s projection. In 2021, industrial output is seen increasing 4.0%.


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Latvia Industry July 20 20

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.


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