Latvia: Industrial production swings back to contraction in August
October 5, 2020
Industrial production output dropped 3.0% in year-on-year, calendar-day adjusted terms in August, contrasting the 0.1% uptick logged in July.
August’s decline was mainly driven by a swing to contraction of manufacturing output, while growth of the mining and quarrying sector lost significant pace.
On a monthly and seasonally-adjusted basis, industrial output slipped 0.4% in August, following July’s 0.8% dip. Meanwhile, the trend deteriorated, with the annual average variation of industrial production coming in at minus 1.5% in August, below July's minus 1.1%.