Latvia: Industrial output accelerates in March
May 7, 2012
In March, industrial production expanded 8.5% over the same month last year, which was above the revised 7.6% increase recorded in February (previously reported: +7.3% year-on-year). The monthly acceleration reflected faster growth in mining and quarrying activity and in manufacturing production. In contrast, electricity and gas contracted compared to the previous month. A month-on-month comparison confirms the acceleration suggested by the annual figures, as industrial production expanded a seasonally adjusted 2.0% in March, which was above the revised flat reading tallied in February (previously reported: +0.1% month-on-month). Despite the faster growth rate observed in March, the trend continues to point downwards, with annual average growth in industrial production falling from 8.9% in February to 8.6% in March.