Latvia: Industrial output growth wanes in June
Industrial output grew 0.7% compared to the same month of the previous year in June, which was a deterioration from May’s 6.4% increase. The result was largely driven by weaker manufacturing output. In addition, electricity and gas supply output contracted at a steeper rate.
On a monthly basis, factory output dropped 2.1% in seasonally-adjusted terms in June, contrasting May’s 0.4% expansion. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at a one-year low of 4.4%, down from May’s 5.0%.