Latvia: Industrial output drops at sharpest pace since April in December
Latest reading: Industrial output declined 6.0% year on year in December, which was a larger contraction than November’s 4.2% decrease. The figure marked the worst reading since April and was due to deteriorating electricity and gas supply production. Meanwhile, manufacturing production gained steam.
On a seasonally adjusted monthly basis, industrial output fell at a sharper rate of 1.6% in December (November: -1.1% mom), the worst result since June. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.2% in December, down from November’s minus 5.7% reading.