Latvia Industry April 2016

Latvia

Latvia: Industrial production rebounds in May

July 4, 2016

Industrial production in Latvia rebounded and expanded 5.1% year-on-year in May, which swung from a 0.5% contraction in April. May’s expansion reflected a pick-up in both the manufacturing sector and electricity generation. Conversely, mining and quarrying deteriorated over the previous month.

Seasonally-adjusted month-on-month data corroborate the improvement suggested by the annual figure. Industrial production increased 2.4% over the previous in May, which contrasted the 1.9% decrease observed in April.

The trend suggests a moderating cycle in production. Annual average growth in industrial output fell from 3.4% in April to 3.3% in May—the slowest rhythm since November 2015.

Following a rebound in 2015, industrial production is expected to continue expanding in 2016. Analysts surveyed by FocusEconomics Consensus Forecast expect industrial production to expand 3.6%, which is up 0.1 percentage points from last month’s projection. For 2017, the panel expects growth in industrial output to accelerate to 3.7%.


Author:, Senior Economist

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Latvia Industry May 2016

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Statistics Latvia and FocusEconomics calculations.


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