Latvia industrial output falls the most in 6 years

Automotive

Latvia industrial production slumped 3.2% year-on-year in December, down from a 0.1% decrease in the previous month, figures from the Riga-based Central Statistical Bureau (CSB) showed on Monday.

It was the second straight monthly fall and the sharpest since January 2014. Output fell further for manufacturing by 1.9% annually in January and dropped for electricity and gas supply by 5.7%.

Mining and quarrying product went down by 5.3%, (vs -17.4% in November). On a monthly basis, industrial production went down 0.3%, after a 1.3% decline in November, CSB said.

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