Latvia: Industrial output drops again in October
Industrial output decreased 2.7% compared to the same month of the previous year in October, which followed September’s 3.8% decrease and marked the fourth consecutive month of deterioration in the sector. The softer drop was largely driven by a weaker contraction in manufacturing output. In contrast, mining and quarrying output decelerated.
On a monthly basis, industrial output was stable in seasonally adjusted terms in October, which was better than Septembers 0.9% fall. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 3.8%, down from September’s 4.3%.