Latvia’s industrial production grew annually in September for the first time in five months, figures from the Central Statistical Bureau showed Monday.
The industrial production volume rose a calendar-adjusted 1.3 percent year-on-year following 0.4 percent fall in August. It was the first increase since April, when production climbed 1.6 percent.
Manufacturing output rose 1.7 percent and mining and quarrying production grew 5.2 percent. Meanwhile, utility sector output dropped 2.2 percent.
Month-on-month, industrial production increased a seasonally adjusted 1.3 percent in September after a 0.2 percent fall in the previous month. In July, production grew 1.5 percent.
In the third quarter, industrial production fell 0.2 percent annually, same as in the previous three months. Production dropped for the fourth consecutive quarter.
Sequentially, industrial production grew 1 percent in the three months to September, following 2.6 percent gain in the previous quarter.
The material has been provided by InstaForex Company – www.instaforex.com