Latvia: Industrial output deteriorates in March
Latest reading: Industrial output declined 2.5% compared to the same month of the previous year in March, which contrasted February’s 2.5% increase. Looking at the details of the release, March’s drop was largely driven by a fall in manufacturing output. In addition, production contracted in both the mining and quarrying, and electricity and gas supply sub-sectors.
On a monthly basis, industrial output fell 2.0% in seasonally adjusted terms in March, contrasting February’s 1.2% expansion and marking the worst result since April 2024. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.2%, down from February’s minus 6.0% reading.