Latvia: Industrial activity drops at sharpest pace since June in November
Latest reading: Industrial output dropped 3.0% in year-on-year terms in November, which followed October’s 1.9% decrease. The result marked the worst reading since June and came on the back of weaker electricity and gas supply production. In contrast, manufacturing production gained steam.
On a seasonally adjusted monthly basis, industrial production fell 0.3% in November (October: +0.5% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.6%, down from October’s minus 5.4% reading.