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Latvia Industry February 2021

Latvia: Industrial production loses steam in February

Industrial production rose 1.5% in year-on-year, calendar-day adjusted terms in February, below the 2.9% increase logged in January.

February’s slowdown was driven by softer output growth in the manufacturing sector, as well as activity in the mining and quarrying sector swinging into contraction. Meanwhile, energy supply production growth quickened in February, softening the slowdown somewhat.

On a monthly and seasonally-adjusted basis, industrial output increased 0.6%, contrasting January’s 1.3% contraction. Lastly, the trend improved slightly, with the annual average variation of industrial production coming in at minus 1.1% in February, up from January’s minus 1.2%.

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