Latvia: Industrial output growth moderates in March
Industrial output rose 0.7% in year-on-year terms in March, which was a deterioration from February’s 1.3% increase. The downturn was largely due to slower growth in mining and quarrying, and electricity and gas supply output. However, manufacturing production decreased at a softer rate.
On a seasonally adjusted monthly basis, factory output fell 0.5% in March (February: +2.5% mom). Meanwhile, annual average of industrial production was 3.2% in March, matching February’s print.