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Latvia industrial output jumps in December

Manufacturing

Image by Pixabay

Industrial production growth in Latvia jumped to 7.1% year-on-year in December, from the downwardly revised 1.0% in the previous month, data from the Riga-based Central Statistical Bureau (CSB) showed.

It was the fastest gain in industrial activity since July as output increased at a faster pace for manufacturing (5.9% vs 1.4% in November) and rebounded for electricity and gas supply (18% vs -4.5%).

However, production fell significantly for mining and quarrying (-11.5% vs 2.3%). On a monthly basis, industrial production rose 3.8%, accelerating from a downwardly revised 0.2% uptick in the previous month. 

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