Latvia: Industrial production accelerates in November
January 3, 2013
In November, industrial production expanded 3.9% over the same month the previous year, which was above the 3.1% increase observed in October. The slight acceleration was the result of notable growth in manufacturing production. A month-on-month comparison confirms the improvement suggested by the annual figures, as industrial production expanded a seasonally adjusted 1.0% in November, which contrasted the 0.3% drop observed in October. Despite the monthly print, the trend continues to point downwards, with annual average growth in industrial production dropping from 6.1% in October to 5.7% in November.
Author: Ricardo Aceves, Senior Economist