Latvia Industry October 2016

Latvia

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.

Industrial production is expected to continue expanding through the rest of this year. Analysts surveyed by FocusEconomics expect industrial production to expand 3.6%, which is up 0.3 percentage points from last month’s projection. For 2017, the panel expects growth in industrial output to slow to 3.6%, which is unchanged from last month’s forecast.


Author:, Senior Economist

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Latvia Industry October 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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