Latvian industrial production growth slows in July

Latvian industrial production growth slows in July
By bne IntelliNews September 5, 2016

Latvia's calendar-adjusted industrial production expanded 2.7% y/y in July, after expanding by a robust 7.9% the previous month, the Central Statistical Bureau (CSB) reported on September 5.

The slower growth only confirms the erratic picture sketched by the Latvian industrial sector. With such uneven performance questions remain whether industry is capable of achieving sustained growth recovery.
 
Output in the manufacturing and utilities sector drove the growth in July, expanding 3.4% and 3.2% on the year, respectively. Production in the mining and quarrying sector declined 9.6%.

Within the manufacturing sector, production of computer, electronic and optical products boomed over 28%, followed by 13.2% growth in the machinery and equipment segment. On the other hand, manufacture of motor vehicles, trailers and semi-trailers dropped almost 11%.

In seasonally adjusted monthly terms, industrial production fell 1.9%, with mining and quarrying contracting 6.4%, while manufacturing fell 1%. The electricity and gas supply segment also dwindled, by 3.5% on the month.  

Latvian industry continues to struggle to build momentum. Output growth was seen slowing between November 2015 and March before contracting in April. In turn, May and June saw growth exceed 5%.

The mediocre growth in July 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, on the back of the faltering construction sector, the CSB announced on August 31.

Data

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

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

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

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

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

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.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A 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