Latvia: Industrial productions gains speed in October
December 5, 2016
Industrial production in Latvia increased 6.7% year-on-year in October, accelerating from an already healthy expansion in September, when output had increased 2.4%. The acceleration reflected a broad-based improvement. Manufacturing output and mining and quarrying grew faster in October, while electricity generation rebounded from a sharp plunge in September.
A month-on-month comparison confirms the improvement suggested by the annual data. Industrial production increased a seasonally-adjusted 2.4% in October, which came in above a 1.6% rise in September.
Due to the strong annual reading, the overall trend in industrial production continues to point to an acceleration. Annual average growth in industrial output rose from 3.2% in September to 3.6% in October.
Author: Ricardo Aceves, Senior Economist