Latvian industrial production bounces back to growth in September

Latvian industrial production bounces back to growth in September
By bne IntelliNews November 3, 2016

Latvia's calendar-adjusted industrial production expanded 2.4% y/y in September, following a fall of 0.6% the previous month, the Central Statistical Bureau (CSB) reported on November 4.

The growth extends the erratic performance of the Latvian industrial sector over the past 18 months or so, when periods of growth have alternated with declines. Valid questions remain whether Latvian industry is capable of achieving sustained recovery from the depths into which it fell during the crisis in the near term.   

Growth of 5.6% y/y in the manufacturing sector drove the expansion of the headline figure in September, the CSB data show. Output expanded 1.1% in mining and quarrying. However the utilities segment saw production crash 14.5%.

Within the manufacturing sector, production of motor vehicles, trailers and semi-trailers and of furniture did particularly well in September, growing 17.4% and 15.4%, respectively. On the other hand, the segment of repair and installation of machinery and equipment fell 13.7%.

In seasonally adjusted monthly terms, industrial production grew 1.5%, with mining and quarrying advancing 0.9%, while manufacturing expanded 2.2%. The electricity and gas supply segment dwindled 1.2%.  

The uneven performance of industrial output in Latvia will increase worries over the wider Latvian economy, which has recently been projected to expand just 1.9% in 2016, down from 2.7% in 2015. In the second quarter, the Latvian economy grew a seasonally adjusted 0.8% y/y.

Data

Register here to continue reading this article and 2 more for free or 12 months full access inc. Magazine and Weekly Newspaper for just $119/year.

If you have already registered, enter the information below with the same email you used previously and you will be granted immediate access.

IntelliNews Pro subscribers click here

Thank you. Please complete your registration by confirming your email address. A confirmation email has been sent to the email address you provided.

Thank you for purchasing a bne IntelliNews subscription. We look forward to serving you as one of our paid subscribers. An email confirmation will be sent to the email address you have provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

IntelliNews Pro subscribers click here

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

If you have already registered, enter the information below with the same email you used previously and you will be granted immediate access.

Thank you. Please complete your registration by confirming your email address. The confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss