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Latvia: Growth in industrial production slows in October

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Staff Writer | December 8, 2017
Industrial production in Latvia expanded 5.4% in October compared to the same month last year, below September’s robust 12.9% year-on-year increase.
Industrial production in Latvia
Europe   FocusEconomics
Meanwhile, annual average growth in industrial production was 9.7% in October, down from the 9.8% expansion September.

Growth in industrial production was broad-based, as all the three sub-sectors expanded robustly. Particularly impressive were the increases registered in the manufacturing of motor vehicles, trailers and semi-trailers, of chemicals and chemical products and of electrical equipment, as well as growth in electricity and gas supply.

In seasonally-adjusted terms, industrial production contracted 2.0% month-on-month in October, strongly contrasting September’s 1.3% growth.

Analysts surveyed by FocusEconomics expect industrial production to expand 4.3% in 2018, which is unchanged from last month’s projection. For 2019, the panel expects growth in industrial output to expand 4.1%.