Latvia: Industrial production weakens in February
April 3, 2012
In February, industrial production expanded 7.3% over the same month last year, which came in below the 8.2% expansion recorded in January. The weaker February print reflected slower growth across all the major sub-categories. Only electricity and gas supply accelerated over the previous month. A month-on-month comparison confirms the softening suggested by the annual figures, as industrial production increased only a seasonally adjusted 0.1% in February, well below the 1.9% expansion recorded in January. As a result of the monthly slowdown, the trend points downwards, with annual average growth in industrial output falling from 9.1% in January to 8.9% in February.
Author: Ricardo Aceves, Senior Economist