Latvia: Industrial output growth ebbs in April
June 3, 2022
Industrial output expanded 3.7% in year-on-year terms in April, which followed March's 6.3% increase. Looking at the details of the release, manufacturing production grew at a slower rate in April, while mining and quarrying output swung to contraction.
On a monthly basis, factory output declined 0.1% in seasonally-adjusted terms in April, which was significantly below March’s 3.5% expansion. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 5.3%, down from March's 6.7% reading.