Latvia Industry February 2019

Latvia

Latvia: Industrial production suffers sharpest contraction in over five years in February

April 8, 2019

According to Latvia’s Central Statistical Bureau, industrial output dropped 3.2% in working day-adjusted year-on-year terms in February, an over five-year low and a steeper decline than January’s 1.8% fall. The print reflected a sharp contraction in the electricity and gas supply sector more than offsetting strong expansions in the manufacturing, and mining and quarrying sectors.

Meanwhile, annual average industrial production growth continued to moderate in February, falling to 0.7% from 1.7% in January. In seasonally-adjusted terms, industrial production rose 0.9% month-on-month in February, contrasting January’s 3.7% drop.

Latvia Industrial Production Forecast


Our panelists expect industrial production to expand 3.1% in 2019, down 0.1 percentage points from last month’s projection, and 3.2% in 2020.


Author:, Economist

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Latvia Industry Chart


Latvia Industry February 2019

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


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