Latvia Industrial Output Drops in March
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Latvia's industrial production plunged by 6.3% year-on-year in March widening a 2.2% drop in the previous month, data released from the Riga-based Central Statistical Bureau (CSB) showed on Monday.
It was the fourth successive period of decline, as output fell sharper for manufacturing (-6.2% vs -2.8% in February) mainly due to wood and of products of wood & cork, except furniture (-19.3% vs -9.7%) and fabricated metal products, except machinery & equipment (-5.9% vs -12%).
Additionally, production decreased for mining & quarrying (-28.5% vs -29.9%) and electricity & gas supply (-0.8% vs 3.8%).
On a monthly comparison basis, Latvia's industrial output slid by 1% in March, reversing a prior 2.5% growth.
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