Latvia: Industrial production rebounds sharply in March after decreasing for four consecutive months
May 5, 2015
In March, industrial production grew 8.7% over the same month last year, rebounding sharply from the 1.7% decrease recorded in February and marking the largest increase in over two years. This was the first time Latvia’s industrial production had grown in four months. March’s recovery resulted from large expansions in the manufacturing sector as well as in electricity production and gas supply, which were only partially offset by a slowdown in the mining and quarrying sector.
Industrial production rose a seasonally-adjusted 10.9% over the previous month, jumping up from the 0.9% increase observed in February.
Meanwhile, the annual average variation in industrial production inched up from February’s minus 0.9% to minus 0.1% in March.
Author: Eric Denis , Economist