Latvia: Industrial output growth improves in May
Industrial output rose 5.3% in year-on-year terms in May, which followed April’s 3.7% increase. Looking at the details of the release, manufacturing output rose at a quicker pace in May, while mining and quarrying output bounced back to growth.
On a seasonally-adjusted monthly basis, factory output rebounded, rising 0.2% in May (April: -0.1% mom). Meanwhile, annual average industrial production growth fell to 4.9% in May (April: +5.3%). This signals a worsening trend in the industrial sector.