Latvia Industrial Output Surges 9.8%

(RTTNews) - Latvia's industrial production expanded at the fastest pace in more than four years in July, data from the Central Statistical Bureau showed on Wednesday.

Industrial output rose a calendar-adjusted 3.1 percent year-on-year in July, faster than the 7.2 percent growth in June.

Further, this was the quickest increase since May 2021, when production had risen 10.7 percent.

The annual production growth in manufacturing accelerated to 10.8 percent from 7.0 percent. Electricity and gas supply output advanced 12.5 percent, while mining and quarrying output contracted sharply by 18.4 percent.

On a monthly basis, industrial production increased a seasonally adjusted 1.5 percent in July, following a 0.9 percent increase a month ago.